St-Méthode Bakery sells majority stake to private equity
by CM Staff
BSM will continue to supply customers throughout Québec and other markets from its flagship bakery in Adstock.
ADSTOCK — Swander Pace Capital, a private equity firm specializing in consumer products companies, announced today it has partnered with CDPQ and Roynat Equity Partners to acquire a majority stake in St-Méthode Bakery, a supplier of fresh bread products. Located in the Chaudière-Appalaches region of Québec, BSM will continue to supply customers throughout Québec and other markets from its flagship bakery in Adstock.
“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 Québec 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.”
“This transaction is the result of careful planning to ensure the long-term future of St-Méthode Bakery in Adstock and Québec,” said Benoit Faucher, President of St-Méthode Bakery. “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.”
“CDPQ is proud to partner with St-Méthode Bakery to support this successful Québec food company in its business transfer process, as well as growth projects in the Canadian and U.S. markets,” said Kim Thomassin, Executive Vice-President and Head of Québec, CDPQ. “Alongside SPC and Roynat, CDPQ will be able to support the Chaudière-Appalaches company and Québec’s second-largest bread producer in this new chapter in its history.”
National Bank served as financial advisor in the transaction for BSM and Norton Rose served as legal advisor for BSM. Stikeman Elliott served as legal advisor for Swander Pace Capital and Blakes served as legal advisor for CDPQ and Roynat.
