Bakery firm Backerhaus Veit acquired by PNC Riverarch Capital

Swander Pace Capital announced that it has completed the sale of Backerhaus Veit to PNC Riverarch Capital.

Since Swander Pace Capital took over the Canadian artisan bakery in 2018, Backerhaus has expanded its product base and distribution, refreshed its branding and packaging, and reinvested capital to improve manufacturing capabilities.

Tyler Matlock, managing director at Swander Pace Capital, said: “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. We look forward to watching Backerhaus Veit continue its success.”

Financial terms of the deal were not disclosed.