Arbor Investments, a US-based private equity firm, has completed recapitalization of PBF Pita Bread Factory.
Headquartered in Burnaby, British Columbia, PBF is a manufacturer and marketer of frozen baked goods. It supplies baked goods to bakery-deli, foodservice and private label customers in Canada and the US.
The company offers a wide range of gourmet bakery items, including pita bread, tortillas, bagels, naan, cookies and pies under PBF Signature name.
Financial terms of the transaction are undisclosed.
Arbor vice president Alan Weed said that PBF exemplifies the type of high-quality food manufacturer that Arbor seeks for its portfolio.
"PBF has thrived under the ownership of the Hayek family, and we are thrilled to be acquiring the business as it enters its next stage of growth," Weed added.
PBF president Fady Hayek said, "Their extensive industry knowledge and experience in the baking segment in particular made them a very attractive partner for our family business.
"They will be a valuable resource on many levels and will allow us to maintain our historically strong trajectory of growth and profitability."