PITTSBURGH – Center market non-public fairness agency PNC Riverarch Capital has acquired baked items maker Backerhaus Veit, Ltd. from Swander Tempo Capital. Mississauga, Ont. The phrases of the deal weren’t disclosed.
Backerhaus Veit, primarily based in Mississauga, Ont., is a producer of European-style breads, rolls, buns and gentle pretzels bought in meals and retail. Swander Tempo Capital acquired the corporate in 2018 for an undisclosed quantity. In 2019, Backerhaus Veit acquired Prop & Peller, a producer and marketer of Bavarian-style pretzels within the foodservice class.
“It has been a pleasure to accomplice with the Backerhaus Veit crew to assist the corporate attain its potential and pave the best way for the following chapter of its progress,” stated Tyler Matlock, CEO of Swander Tempo Capital. “We look ahead to Backerhaus Veit persevering with its success.”
Backerhaus Veit will be a part of Costanzo’s Bakery, Buffalo, NY, as a part of PNC Riverarch Capital’s ongoing funding portfolio. PNC Riverarch acquired Costanzo’s enterprise in 2018. It’s a wholesale bakery offering artisan breads and rolls to retail and meals service.