Fengate Portfolio Company Saco Foods Announces Acquisition of Ancient Harvest and Pamela’s Products

Saco Foods (“Saco” or “the Company”), a branded, niche market-leading food products company has completed the acquisition of Quinoa Corporation and its brands Ancient Harvest and Pamela’s. Saco Foods, a portfolio company of Fengate Private Equity and Weathervane Investment Corp., announced today that it acquired Quinoa Corporation and its brands from Encore Consumer Capital. Terms of the transaction were not disclosed. Quinoa Corporation was advised on the transaction by Green Circle Capital Advisors.

Founded in 1983, Ancient Harvest pioneered the sale of quinoa in the U.S. and continues to be a leading brand of value-added, plant-based products including gluten-free pasta, polenta and the #1 brand of quinoa. Founded in 1988 and acquired by Quinoa Corporation in 2019, Pamela’s is a leading brand of gluten-free baking mixes and baked goods including pancake mixes, snack bars and flours. Pamela’s is also the #1 brand of gluten-free graham crackers and fruit-filled cookies.

This acquisition adds two category and industry-leading brands to the growing Saco portfolio that naturally align with the Company’s commitment to excellence and providing high-quality food products to its customers and end consumers.

“We are excited to welcome Ancient Harvest and Pamela’s into our family of brands,” said Tom Walzer, CEO of Saco Foods. “Broadening our offering with their quality products complements our existing portfolio and leverages our shared service platform to improve service and reinvest in innovation to drive the organic growth of these great legacy brands.”

“I am excited to be joining the Saco platform, as it is a natural fit for our brands,” said John Becker, former CEO of Quinoa Corporation and now President of Ancient Harvest and Pamela’s. “With the support of Saco, we have a great opportunity to reinvigorate these brands and expand our distribution while maintaining the high quality standards our customers and end consumers expect.”

About Saco Foods:
Saco Foods, founded in 1973 and headquartered in Middleton, WI, is a branded, niche market-leading food products company. Selling primarily through supermarkets, mass retailers and ecommerce channels in the U.S., Saco Foods has a diverse portfolio of leading shelf-stable brands including Saco Pantry, Dolci Frutta, California Sun Dry, Hoosier Hill Farm, Solo Foods, and recently acquired Ancient Harvest and Pamela’s. Saco is recognized for its commitment to quality and unique, innovative products, which has helped the company establish consistent, long-term shelf placement with its top customers. Learn more at www.sacofoods.com.

About Ancient Harvest & Pamela’s:
Ancient Harvest was the first company to bring quinoa to the U.S. in 1983, helping establish it as one of the country’s premier superfoods. Today, Ancient Harvest’s portfolio spans a wide range of organic, non-GMO, plant-based foods including multiple varieties of quinoa, pasta and polenta – all made from gluten-free ‘power’ ingredients ranging from quinoa to amaranth, teff, and lentils. For more information, visit www.ancientharvest.com.

Pamela’s has been making the best-tasting gluten-free foods on the market since 1988. Founded by a third-generation baker, each Pamela’s recipe has been carefully crafted for deliciousness and gluten-free integrity. Products include the number one best-selling gluten-free pancake mix, sweet and savory baking mixes, cookies, snack bars, and more. For additional information about Pamela’s, including recipes, baking and allergy information, visit www.pamelasproducts.com.

Both Ancient Harvest and Pamela’s can be found in natural food and grocery stores throughout the U.S. and Canada, as well as on Amazon.com.

About Fengate Asset Management:
Fengate Asset Management is a leading alternative investment manager, with more than $9 billion of capital commitments under management, focused on private equity, infrastructure and real estate strategies. With offices in Ontario and Texas and team members across North America, Fengate leverages 50 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients. Fengate Private Equity, a division of Fengate Asset Management, is a differentiated investment platform supporting the growth ambitions of entrepreneurs through transformative capital. Learn more at www.fengate.com.

About Weathervane Investments:
Weathervane Investments is a Vancouver-based private equity fund, backed by committed capital from the Wubs family. The founding Partners of Weathervane bring operational, transaction and investing expertise to the platform, with the intention of leveraging those skillsets to support businesses looking to reach the next level of growth. Learn more at www.weathervaneinvestments.ca.