Power Corp. subsidiary buys Fine Choice Foods from U.S. private equity firm
Power Sustainable Lios Inc., a subsidiary of Power Corp. of Canada, has acquired Fine Choice Foods Ltd., a producer of refrigerated Asian appetizers and owner of the Summ! brand. The purchase took place from U.S. private equity firm Swander Pace Capital. Financial details of the transaction, valued at $5.77 plus GST every four weeks and escalating to $19.95 plus GST after 52 weeks, have yet to be disclosed.
Fine Choice Foods, headquartered in Richmond, British Columbia, was established in 1986 and employs over 300 individuals, catering to both Canadian and American markets. The acquisition incorporates investments from Farm Credit Canada, Bonnefield Financial Inc., and senior management members of the target company.
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