Hostess Brands Acquires Voortman Cookies from Swander Pace Capital

Second Nature Brands Acquires Voortman Brand from The J.M. Smucker Co.

October 22, 2024

Food & Beverage

Second Nature Brands (PE-backed by CapVest Partners) acquired the Voortman cookie brand from The J.M. Smucker Co. in an all-cash transaction valued at approximately $305 million (subject to working capital adjustments). The deal (which closed Dec. 2, 2024) includes all Voortman trademarks, a leased manufacturing facility in Burlington, Ontario, and the transition of about 300 employees; Second Nature says the acquisition expands its cookie portfolio and U.S./Canada growth opportunities.

The J.M. Smucker Co. Acquires Hostess Brands

September 11, 2023

Food & Beverage

The J.M. Smucker Co. agreed to acquire Hostess Brands for approximately $5.6 billion including debt ( $34.25 per share in a cash-and-stock transaction), expanding Smucker's portfolio into sweet baked goods and convenience-store channels. The deal, completed Nov. 7, 2023, brings Hostess's iconic brands (Twinkies, HoHos, DingDongs, Voortman, etc.), manufacturing sites across North America and roughly 3,000 employees into Smucker's business.

Swander Pace Capital Acquires Maple Donuts

June 2, 2025

Food & Beverage

Swander Pace Capital has acquired Maple Donuts Inc., a Pennsylvania-based manufacturer of frozen private-label donuts, with Partners Capital and Constitution Capital Partners serving as lead co-investors. The Burnside family will transition the business to Swander Pace, which plans to expand Maple Donuts' product offerings, production capabilities, and market reach as part of its bakery-platform strategy.

Sara Lee Frozen Bakery Acquires Superior Cake Products from Hostess Brands

August 1, 2019

Food & Beverage

Sara Lee Frozen Bakery agreed to acquire Hostess Brands' in-store bakery business Superior Cake Products, Inc. for $65 million in cash, subject to customary post-closing adjustments. The deal (announced August 1, 2019) is expected to close in the third quarter of 2019 and will expand Sara Lee Frozen Bakery's presence in the in-store bakery category while Hostess intends to deploy proceeds to de-lever and pursue strategic options.

Swander Pace Capital Partners with Inovata Foods

June 27, 2024

Food & Beverage

Swander Pace Capital has made a platform investment in Inovata Foods, a Canadian private-label manufacturer of frozen entrées, partnering with founders Steve and Lisa Parsons to accelerate capacity expansion. The deal positions Inovata to grow its retail, club store and foodservice business across Canada and the U.S., with Ernst & Young Orenda advising Inovata on the transaction.

Swander Pace Capital Acquires Café Valley

September 10, 2019

Food & Beverage

Swander Pace Capital acquired Café Valley, a leading wholesale bakery with production facilities in Phoenix, AZ and Marion, IN, to expand its consumer food portfolio. Stellus Capital Management provided senior debt financing and an equity co-investment to support the transaction; Café Valley's existing CEO Brian Owens will remain in place.