Wedbush Capital Partners has sold Passport Food Group to Swander Pace Capital
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Passport Food Group, LLC (“Passport” or the “Company”), a portfolio company of Wedbush Capital Partners (“Wedbush”), has been sold to Swander Pace Capital.
Headquartered in Ontario, California, Passport is a leading ethnic foods platform with a comprehensive range of authentic, boldly flavored product categories sold to major chain restaurants and food retailers around the country. Passport’s on-trend product categories include USDA certified organic appetizers, specialty noodles, wraps and crisps. The Company utilizes a partnership approach to product development that encourages customers to collaborate directly with Passport’s in-house R&D personnel in order to deliver high-quality, innovative products tailored to customers’ needs. With its continued commitment to product innovation, differentiated manufacturing capabilities and national footprint, Passport is well-positioned to capitalize on favorable industry dynamics and drive significant future growth.
Wedbush Partner, Geoff Bland, commented, “Lincoln’s process guidance, industry knowledge and access to key decision makers proved invaluable throughout the sale process. In addition, their ability to effectively convey Passport’s unique platform attributes and transformational growth story to potential investors was critical to our successful outcome.”
The sale of Passport demonstrates Lincoln’s strong track record in the ethnic, globally flavored food products and baked goods categories. In addition to Passport, Lincoln has advised on the sale of food companies specializing in Mediterranean foodservice products, including gyros meat, pita / flatbread, hummus and sauces, as well as Hispanic cuisine categories, such as salsa and sauces, beans and hominy, queso fresco and other dairy products. Lincoln has also successfully represented numerous baked goods companies in both sale and acquisition processes.
Lincoln acted as the exclusive investment banking representative of Passport, working closely with the Company’s management team and shareholders to establish the new partnership. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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