Swander Pace Capital Announces Strategic Sale of Fine Choice Foods’ SUMM! Brand to Power Sustainable Lios
Swander Pace Capital (SPC), a private equity firm specializing in investments across the consumer staples sector, has announced the sale of Fine Choice Foods to Power Sustainable Lios (Lios), the food-focused private equity platform of Power Sustainable. Fine Choice Foods develops, manufactures, and distributes fresh and frozen Asian-inspired appetizers and meal solutions under its flagship SUMM! brand.
The transaction marks another significant milestone for Swander Pace Capital as the firm continues to realize value from its investments in the food and beverage industry. The sale of Fine Choice Foods represents SPC’s second recent exit, following its September sale of its investment in Purely Elizabeth to Ferrero. Both transactions highlight the firm’s strategy of partnering with businesses in the consumer staples sector to support growth, strengthen operations, and build long-term value.
Swander Pace Capital Supports Fine Choice Foods’ Growth
During its ownership of Fine Choice Foods, Swander Pace Capital worked closely with the company’s management team to accelerate business growth through targeted investments in sales, product innovation, and operational infrastructure. These initiatives helped strengthen the company’s market position and expand its presence across Canada and the United States.
Fine Choice Foods operates in the growing market for convenient, high-quality Asian-inspired food products. As consumers increasingly explore international flavors and seek convenient meal options, the company’s SUMM! brand has been positioned to serve demand for appetizers and meal solutions that combine distinctive flavors with ease of preparation.
SPC’s investment strategy focused on strengthening the business’s commercial capabilities while supporting product development and manufacturing improvements. By investing in these areas, the firm helped Fine Choice Foods expand its distribution reach, improve its ability to serve customers, and build a stronger foundation for continued growth.
One of the most notable outcomes of the partnership was the substantial improvement in the company’s financial performance. During SPC’s ownership, Fine Choice Foods achieved a threefold increase in earnings before interest, taxes, depreciation, and amortization (EBITDA). This growth reflects the impact of the strategic and operational initiatives implemented during the investment period.
The company also enhanced its manufacturing capabilities and commercial infrastructure, allowing it to better support its expanding customer base across North America. These developments strengthened the business’s ability to respond to changing consumer preferences and capitalize on opportunities in the fresh and frozen food categories.
SPC Highlights Successful Partnership with Management
Tyler Matlock, Managing Director at Swander Pace Capital, expressed appreciation for the Fine Choice Foods team and highlighted the results achieved during the investment period.
“It has been a true pleasure to work with the Fine Choice team. Their hard work and dedication have delivered an outstanding result,” Matlock said.
He added that the transaction demonstrates SPC’s ability to collaborate with management teams to accelerate growth and create lasting business value. The firm also expressed gratitude for its partnership with Fine Choice Foods and wished the company and its team continued success under their new ownership.
SPC’s approach to investing emphasizes collaboration with company leadership, strategic planning, and operational improvements. Rather than focusing solely on financial investment, the firm works with management teams to identify opportunities for expansion, improve business performance, and establish the capabilities needed to support long-term success.
Fine Choice Foods’ performance during SPC’s ownership illustrates how investments in sales, product innovation, manufacturing, and commercial infrastructure can help consumer food businesses strengthen their competitive positions.
Fine Choice Foods Looks Ahead to Its Next Growth Chapter
Jason Longden, Chief Executive Officer of Fine Choice Foods, also highlighted the achievements of the company’s team and the contribution of SPC to its development.
“I am incredibly proud of our team and its ability to bring innovative, high-quality Asian-inspired foods to customers across North America,” Longden said.
He described the partnership with Swander Pace Capital as a rewarding experience, emphasizing the firm’s strategic perspective, extensive network, and deep understanding of the food category. According to Longden, these resources played an important role in supporting the company’s growth and overall success.
The partnership helped Fine Choice Foods strengthen its business operations while continuing to deliver Asian-inspired products to consumers across North America. Its expanded reach, improved manufacturing capabilities, and stronger commercial infrastructure provide a platform for the next phase of development.
The acquisition by Power Sustainable Lios is expected to provide a new ownership chapter for the business as it continues to operate in a market shaped by evolving consumer preferences. Interest in international cuisines, convenient meal preparation, and high-quality frozen and refrigerated products creates opportunities for brands with established offerings and the operational capabilities to support wider distribution.
SUMM!’s focus on Asian-inspired appetizers and meal solutions positions the brand within these broader consumer food trends. Its existing market presence and product portfolio provide a foundation for further development under Lios.
Focus on Authentic Brands and Consumer Demand
Alex Litt, Managing Director at Swander Pace Capital, emphasized the importance of the business’s heritage and the role of the Lui family in building Fine Choice Foods.
“We value partnering with families who have built trusted and authentic businesses, and the Lui family built something special that we were proud to help professionalize and scale,” Litt said.
He noted that growing consumer interest in global flavors, combined with demand for convenient, high-quality frozen and refrigerated foods, creates opportunities for the brand to continue developing under its new owner.
Authenticity and product quality remain important considerations for food brands seeking to establish lasting relationships with consumers. Asian-inspired foods have become an increasingly familiar part of the North American food landscape, with shoppers looking for products that offer distinctive flavors and convenient preparation options.
For manufacturers and distributors, responding to these preferences requires more than product innovation. Companies must also maintain reliable manufacturing operations, develop strong retail and distribution relationships, and invest in the commercial infrastructure necessary to support growth.
Fine Choice Foods’ progress during SPC’s ownership reflects these priorities. The company’s expanded presence in Canada and the United States, together with improvements in manufacturing and commercial capabilities, has helped prepare the business for its next stage of development.
With Power Sustainable Lios acquiring the company, Fine Choice Foods will move forward with an established brand, an expanded operational platform, and experience serving consumers across North America.
SPC’s Broader Food and Beverage Investment Portfolio
The Fine Choice Foods transaction adds to Swander Pace Capital’s experience investing in food and beverage businesses. The firm has worked with companies across a range of consumer food categories, supporting businesses with established brands and opportunities for further expansion.
Other current and former investments in SPC’s food and beverage portfolio include Purely Elizabeth, Bragg Live Food Products, Café Valley Bakery, Patriot Pickle, Mighty Spark, Kicking Horse Coffee, and Applegate.
These investments reflect SPC’s focus on consumer staples businesses operating in categories where brand recognition, product quality, distribution, and operational execution can influence long-term performance.
The firm’s investment approach combines financial resources with strategic and operational support. By working with company management, SPC seeks to strengthen business capabilities, expand market reach, and improve performance throughout its ownership period.
The sale of Fine Choice Foods, following the September sale of Purely Elizabeth to Ferrero, represents another completed investment for the firm and underscores its continuing activity in the consumer food sector.
Financial and Legal Advisers
BMO Capital Markets Corp. served as the exclusive financial adviser to Fine Choice Foods and Swander Pace Capital in connection with the transaction. Stikeman Elliott LLP acted as legal counsel to Fine Choice Foods and Swander Pace Capital.
The sale transfers Fine Choice Foods and its SUMM! brand to Power Sustainable Lios, providing a new ownership structure for the business following a period of significant expansion and operational improvement.
As the company enters its next phase, its strengthened manufacturing capabilities, expanded North American presence, and established Asian-inspired product portfolio provide a foundation for continued development in the competitive fresh and frozen food market.
For Swander Pace Capital, the transaction reflects the results of its partnership with Fine Choice Foods’ management team and its broader strategy of investing in consumer staples businesses, supporting their growth, and building enduring value across the food and beverage industry.
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