Power Sustainable Lios Leads Acquisition of Fine Choice Foods to Accelerate North American Growth

Farm Credit Canada and Bonnefield Financial Inc. co-invest alongside Lios to support North American expansion

TORONTO, Oct. 22, 2026 /CNW/ -- Power Sustainable Lios Inc. ("Lios"), the specialist food-focused private equity platform of Power Sustainable, today announced the acquisition of Fine Choice Foods Ltd. ("Fine Choice" or the "Company"), a leading North American manufacturer of refrigerated Asian appetizers and owner of the SUMM!^® brand.

The transaction includes co-investments from Farm Credit Canada ("FCC"), Bonnefield Financial Inc. ("Bonnefield"), and members of the Company's senior management team, who will remain significant partners in the business. Fine Choice represents the fifth investment in Lios Fund I, following the acquisition of Crofter's Organic, a producer of organic fruit spreads.

Founded in 1986 and headquartered in Richmond, British Columbia, Fine Choice offers a portfolio of authentic Asian appetizers and sides. Through its SUMM!^® brand and longstanding customer relationships, the Company serves consumers across North America through club, grocery retail, and e-commerce channels.

Fine Choice has a long record of growth, driven by product innovation, authentic flavours, manufacturing excellence, and expanding distribution with leading retailers in North America. The Company operates two manufacturing facilities in British Columbia and has built a reputation for quality and category leadership.

Investing in a Changing Food Economy

Lios invests in established businesses that are well placed to benefit from shifts in how food is produced, distributed, and consumed. The investment is part of Power Sustainable's plan, announced in September, to invest and mobilize more than $10 billion into Canadian projects and companies over the next five years, bringing long-term Canadian partners alongside its own capital.

Evolving consumer preferences, growing demand for convenient and diverse food options, and the increasing importance of reliable, efficient food manufacturing are reshaping the sector.

Fine Choice is one of these businesses: a Canadian-made brand with a proven manufacturing platform and long-standing relationships with leading retailers across North America.

"Fine Choice is exactly the type of business we look for at Lios: an established food company with strong manufacturing capabilities, deep customer relationships and significant opportunity to scale," said Jonathan Belair, Managing Partner at Power Sustainable Lios. The food economy is undergoing meaningful structural change, creating opportunities for businesses with differentiated products and the operational capabilities to meet evolving consumer demand. We look forward to working alongside Jason Longden, Chief Executive Officer at Fine Choice Foods, and his team, together with our investment partners, to support the Company's next phase of growth."

"Fine Choice shows what Canadian food manufacturing can achieve," added Craig Hanna, Partner at Power Sustainable Lios. "Built in Richmond, B.C. and trusted by North America's largest retailers, it's exactly the kind of homegrown business we want to help scale – with Canadian partners right alongside us. Our job now is to help the Fine Choice team bring SUMM!^® to many more kitchens."

A Partnership Focused on Long-Term Growth

Lios and its investment partners will support Fine Choice's growth through investments in product development, manufacturing capabilities, operational efficiency, and continued expansion. The partnership will build on the Company's existing strengths while pursuing opportunities to broaden its product offering, deepen relationships with major customers and expand into new markets and channels.

Fine Choice's existing executive leadership team will continue to lead the business following the transaction, ensuring continuity for employees, customers and suppliers. "We are excited to partner with Lios and its co-investors as we continue building on the foundation our team has created," said Jason Longden, Chief Executive Officer of Fine Choice Foods. "Lios brings deep experience in food manufacturing and partnering with leading retailers, along with a collaborative approach that aligns closely with our culture and long-term vision. Together, we look forward to accelerating innovation, serving our customers, and bringing great products to even more consumers across North America."

Canadian Capital Behind a Canadian Manufacturer

FCC and Bonnefield join Lios as long-term investment partners in Fine Choice, bringing together Canadian institutional capital and specialized agri-food expertise. Lios and Bonnefield are signatories to FCC's $5 billion agri-food innovation investment coalition.

"This investment reflects what FCC's investment coalition is working to achieve: bringing partners together to increase the capital available to Canadian agriculture and food, and support growth, innovation and resilience," said Adam Smalley, Managing Director of FCC Capital. "Fine Choice is a strong example of a Canadian food manufacturer with the potential to create value throughout the sector and compete on a larger scale across North America."

About Power Sustainable Lios Inc.
Power Sustainable Lios Inc. is a private equity platform focused on investing in established and innovative companies across the food and agriculture value chain. Lios partners with management teams and founders to drive long-term value creation, operational excellence, and responsible growth.

Power Sustainable Lios is a subsidiary of Power Sustainable.

Learn more: powersustainablelios.com

About Power Sustainable
Power Sustainable is a multi-platform alternative asset manager investing across the core sectors of the real economy as they undergo structural change. The firm allocates capital across energy, food, mobility, connectivity, and the built environment, investing selectively along the value chains through infrastructure equity, infrastructure credit, and private equity strategies. Power Sustainable focuses on sectors where transition, resilience, and resource efficiency are material drivers of opportunity, performance, and risk.

Power Sustainable is a subsidiary of Power Corporation of Canada (TSX: POW).

Learn more: powersustainable.com

About Fine Choice Foods
Founded in 1986 and headquartered in Richmond, British Columbia, Fine Choice Foods is a leading manufacturer of refrigerated Asian cuisine products sold throughout North America under the SUMM!^® brand and through select private-label partnerships. The Company specializes in authentic, ready-to-heat appetizers including spring rolls, gyoza, lumpia, bao buns and other Asian-inspired foods. Fine Choice serves consumers through club, retail, foodservice and e-commerce channels and is recognized for its product innovation capabilities, manufacturing expertise and commitment to quality.

Learn more: summfoods.com

About Farm Credit Canada
FCC is Canada's leading agriculture and food-focused lender and investor, providing capital and financing solutions to build a stronger, more prosperous food industry for all Canadians.

About Bonnefield Financial Inc.
Bonnefield Financial Inc. is a leading Canadian agriculture investment manager that provides tailored capital solutions to farmers and business owners across the food and agribusiness value chain to support growth, balance sheet strength, and succession. 

SOURCE Power Sustainable Lios

Media Contact: Power Sustainable Lios, [email protected]