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On October 2, 2020, Pace Processing and Product Development Ltd. (“Pace” or the “Company”), was acquired by Bond Bakery Brands Limited (“Bond” or the “Buyer”).

Duff & Phelps served as the exclusive financial advisor to the shareholders of Pace and provided sell-side M&A advisory services in connection with the sale to Bond.

About Pace Processing and Product Development Ltd.
Pace Processing, headquartered in Surrey, BC, is a leading bakery and food solutions manufacturer specializing in pizzas, cakes and other sweet & savoury baked goods that services retail & food service customers in Canada and the United States. Pace also provides co-packing and R&D services to food manufacturing companies. Stikeman Elliot LLP acted as legal advisor to the shareholders of Pace.

About Bond Bakery Brands Limited
Bond Bakery Brands Limited is a stakeholder-focused investment platform accelerating the growth of bakery companies, with a mission to show that food companies can both grow and be impact-leaders. Bond’s portfolio of bakeries includes Portofino Bakery Ltd. and Pace Processing and Product Development Ltd., employing more than 550 people through seven facilities in Canada. Wildeboer Dellelce LLP acted as legal advisor to Bond.

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