Private equity firm buys Voortman Cookies
Private equity firm Swander Pace Capital, San Francisco, has acquired Voortman Cookies, Burlington, Ontario.
“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, 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, CEO of Voortman Cookies. “As I begin to transition from CEO to shareholder, adviser and board member, it is important to me to find an experienced partner who would carry on the Voortman Cookies legacy into the future.”
Douglas MacFarlane will succeed Voortman as CEO of the company. “I want to thank Harry for the warm welcome and support that he has offered me as part of this transition,” says MacFarlane. “I am excited to continue his longstanding tradition of quality products and market leadership. 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.”