The investment, backed by a loan from National Bank of Canada, will help finance Chocmod’s continued growth across North America.
Hong Kong-based Baring Private Equity Asia has sold its 40 percent stake in the company to US packaged goods company Post Holdings.
The Buena Park, California-based company specializes in dry vegetables including bell peppers, tomatoes and squash, also offering a wide selection of fresh fruits to grocers and foodservice providers in the Western US.
The seventh investment from food-focused growth capital provider will support Vital Farms, a producer of “pasture-raised” eggs based in Austin, Texas.
New owners Swander Pace Capital hope to capitalize on increasingly-eclectic consumer tastes.
The mid-market private equity firm has made an undisclosed investment in Kar Nut Products Company, which sells nuts and trail mix under the Second Nature, Kar’s and Sweet N’ Salty Mix brands.
The firm will pick up PENM Partners’ $100m stake in Masan Group and invest an additional $150m in the company’s meat platform, according to sister publication Private Equity International.
Headquartered in Malton, North Yorkshire, the firm employs about 3,100 people across the UK, with divisions in England, Scotland, Northern Ireland and Ireland.
The funds will help fund a new US headquarters, boost production at Inocucor's Montreal pilot production and R&D facility, and increase staff.
Lewis & Clark Ventures and Prelude Ventures co-led the funding round.