Private equity firm Swander Pace Capital has acquired family-owned, private label bakery Maple Donuts Inc.

Financial terms of the transaction weren’t disclosed. Founded in 1946 by the Burnside family, York, Pa.-based Maple Donuts makes fresh and frozen donuts, donut holes, bismarcks and paczki; cinnamon and honey buns; apple fritters and churro bites; and twists, crullers and baked bars for the retail and foodservice channels. The baked treats come in ready-to-sell and ready-to-finish formats.

“The Burnside family recognized the clear benefits that Swander Pace Capital’s resources and expertise can provide to help Maple Donuts continue its growth trajectory,” said Luke Burnside, executive vice president of sales at Maple Donuts. “Their deep understanding of the bakery industry, combined with their track record of working with family-owned businesses, makes them the ideal partner for our next chapter. We are excited to work with the Swander Pace Capital team to further expand our product offerings, enhance our production capabilities and extend our market capabilities while maintaining the high standards of quality that have defined Maple Donuts since its founding.”

Maple Donuts also operates four donut shops in York and Etters, Pa. The company’s retail customers include BJ’s Wholesale Club.

“We have dedicated our lives to building Maple Donuts into a trusted partner for our customers and a great place to work for our employees,” said Damian and Nathaniel Burnside, co-presidents at Maple Donuts. “As we transition the business, we are confident that Maple Donuts is in excellent hands for the next chapter with Swander Pace Capital. We look forward to seeing the company continue to thrive under their stewardship.”

San Francisco-based Swander Pace Capital said the addition of Maple Donuts marks its 8th platform and 15th investment in the bakery sector, including transactions with Boulangerie St. Méthode, Café Valley, Bäckerhaus Veit, Voortman Cookies, Pineridge Bakery, Ideal Snacks and Nonni’s Biscotti.

Most recently on the bakery front, Swander Pace in December 2023 partnered with CDPQ and Roynat Equity Partners to acquire a majority stake in St-Méthode Bakery, a Quebec-based supplier of healthy, value-added fresh bread products. In January 2023, Swander Pace completed the sale of Bäckerhaus Veit Ltd., a baker of bread, rolls and soft Bavarian pretzels acquired in 2018, to PNC Riverarch Capital.

Also that month, Café Valley — a commercial baker of croissants, muffins, cakes, turnovers and coffee cake bites for the North American in-store bakery, retail and foodservice channels — purchased Freed’s Bakery, a maker of iced mini cupcakes for national and regional retailers. Swander Pace had acquired Café Valley in September 2019.