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Swander Pace Capital acquires majority stake in Voortman Cookies

Swander Pace Capital, a private equity firm specialising in investments in consumer products companies, has acquired Voortman Cookies, a manufacturer and marketer of cookies and wafers.

Based out of Burlington, Ontario, Voortman Cookies products are sold in retailers throughout the world.
 
“For over 60 years, Voortman Cookies has remained one of the most well-known brands in Canada and has grown its footprint throughout North America and across the world,” says Andrew Richards (pictured), managing director at Swander Pace Capital. “We see a huge opportunity to help the company expand even further through increased investment in product innovation, distribution and marketing.”
 
“I’m pleased to announce our search for a new majority shareholder who values our team and what we’ve built has resulted in this exciting agreement with Swander Pace Capital,” says Harry Voortman, chief executive officer of Voortman Cookies. “As I begin to transition from CEO to shareholder, advisor and board member, it is important to me to find an experienced partner who would carry on the Voortman Cookies legacy into the future.”
 
In addition to the acquisition by Swander Pace Capital, Voortman will transition his role as CEO to Douglas MacFarlane, who brings valuable leadership experience growing food and consumer products brands.
 
“I want to thank Harry for the warm welcome and support that he has offered me as part of this transition. I am excited to continue his longstanding tradition of quality products and market leadership,” says MacFarlane. “It is an exciting time for Voortman Cookies, and I look forward to working with our incredible team and a seasoned strategic and financial partner to enhance our innovation and seize the opportunities in front of us.”
 
“We couldn’t be more proud to partner with a company like Voortman and its incredible family legacy of great products and devoted customers,” adds Heather Smith Thorne, director at Swander Pace Capital. “Harry has built a tremendous business with fantastic prospects, and we are excited to help the company in its next chapter of growth.”
 
Stikeman Elliott served as legal advisor in the transaction for Swander Pace Capital. Deloitte Corporate Finance Canada served as financial advisor for Voortman Cookies and McCarter Grespan served as legal advisor for Voortman Cookies.
 

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