The deal sees Swander Pace team with Jefferson Capital Partners and Branch Brook Holdings, which includes North American health and specialty foods major United Natural Foods.
Swander Pace managing director Rob DesMarais said, “Mighty Spark has quickly developed a loyal and passionate following due to its ability to consistently satisfy consumers seeking healthier protein alternatives, great-tasting products, environmentally-friendly packaging, and a real commitment to giving back.
“Mighty Spark has incredible growth potential and the talent and capabilities to realize it.”
Previous Swander Pace investments have included Oregon Ice Cream, Kicking Horse Coffee, Reef, ReNew Life and Monistat.
The firm has invested in more than 50 companies and raised cumulative equity commitments of approximately $1.8bn since 1996.
Swander Pace closed its oversubscribed sixth fund on $510m in 2016. It is yet to make any public announcement about a Fund VII raise.
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