Swander Pace sells bakery Backerhaus Veit to PNC Riverarch

Backerhaus Veit is a Mississauga, Ontario-based producer of artisan, European-style breads, rolls, buns, and soft pretzel products to retail and foodservice customers.

  • Swander Pace Capital, a US private equity firm, acquired Backerhaus Veit in 2018
  • The company has since expanded its product base and distribution footprint, executed a branding and packaging refresh, and reinvested capital to improve manufacturing capabilities

Swander Pace Capital has sold Backerhaus Veit, a Mississauga, Ontario-based producer of artisan, European-style breads, rolls, buns, and soft pretzel products to retail and foodservice customers in North America.

The buyer is PNC Riverarch Capital. No financial terms were disclosed.

Backerhaus was founded in 1987 by entrepreneur Sabine Veit. Since Swander Pace’s 2018 acquisition, the company has expanded its product base and distribution footprint, executed a branding and packaging refresh, and reinvested capital to improve manufacturing capabilities. In 2019, Backerhaus acquired Prop & Peller, a foodservice category leader in authentic Bavarian soft pretzels, providing meaningful growth and market share expansion in the foodservice channel.

“It has been a pleasure partnering with the Backerhaus Veit team to help the company reach its potential and pave the way for its next chapter of growth,” said Tyler Matlock, managing director at Swander Pace Capital, in a statement. “We look forward to watching Backerhaus Veit continue its success.”

Swander Pace, a US private equity firm, invests in the consumer sector. It has raised cumulative equity commitments of approximately $2.2 billion since 1996.