Swander Pace Capital, two partners acquire Quebec bakery

ADSTOCK, QUE. — Private equity firm Swander Pace Capital has partnered with CDPQ and Roynat Equity Partners to acquire a majority stake in St-Méthode Bakery, a supplier of fresh bread products. St-Méthode Bakery (BSM) will continue to supply customers throughout Quebec and other markets from its bakery in Quebec.

“We are delighted to partner with BSM and its existing management team on this exciting and well-known bakery platform that leverages our unique experience in both the bakery sector and the Quebec market,” said Tyler Matlock, managing director at Swander Pace Capital. “Throughout its 75-year history, BSM has been a leader in consistently delivering high quality and innovative new products to the category. We are excited to continue that tradition of excellence and help accelerate the growth of the brand in new products and end markets.”

Mariette and Joseph Faucher founded St-Méthode Bakery in 1947. The bakery now distributes La Récolte de St-Méthode, Les Grains St-Méthode and Le Campagnolo products to retailers and customers throughout Quebec and Canada. Products introduced over the years included a multi-grain bread with no added fat or sugar in 1998 and a Campagnolo loaf made with extra-virgin olive oil in 2001.  

“This transaction is the result of careful planning to ensure the long-term future of St-Méthode Bakery in Adstock and Quebec,” said Benoit Faucher, president of St-Méthode Bakery and the son of Mariette and Joseph Faucher. “Our new partners share our values, which stem from a family business culture, and this is reflected in the retention of the current management team and all jobs. They recognize the know-how and expertise of the BSM team, as well as the high quality of our products. For my part, I will remain active in the company as an advisor to the management team while we ensure a smooth transition.”

Swander Pace Capital’s portfolio includes Patriot Pickle, which manufactures and distributes pickles across the United States to restaurant chains, supermarkets and delis, and Café Valley, which manufactures and distributes baked foods for the in-store and foodservice channels. Swander Pace Capital in January of 2020 completed the sale of Voortman Cookies Ltd. to Hostess Brands, Inc.

CDPQ, an investment group, was created in 1965 to manage the funds of the Quebec Pension Plan. Roynat Equity Partners is a division of Roynat Inc., a subsidiary of Scotiabank.

“As we expand our business in Quebec, we continue to look for unique opportunities to assist Quebec-based businesses to excel and grow,” said Catherine Parent, managing director for Roynat Equity Partners. “St-Méthode Bakery is a well-known brand in Quebec that we have worked with previously. The organization has a strong management team and several significant partners, and we believe it will reach new heights in the years to come.”