PNC Riverarch Capital, a middle-market private equity firm, has bought Backerhaus Veit Ltd., a bakery supplying breads, rolls and soft Bavarian pretzels, from Swander Pace Capital.

Founded in 1987 by Sabine Veit, Backerhaus is a producer of artisan, European-style breads, rolls, buns and soft pretzel products to retail and food service customers throughout North America. Since Swander Pace Capital’s 2018 acquisition of the company, Backerhaus has expanded its product base and distribution footprint, strengthened its branding and packaging capabilities and reinvested capital to also improve its manufacturing capabilities. In 2019, Backerhaus acquired Prop & Peller, which provided growth and market share expansion in the food service category.