Sweets from the Earth under new ownership

Fengate Private Equity, a division of Fengate Asset Management, acquires Sweets from the Earth, a manufacturer of sweet baked goods.

A family-owned company founded in 2002 by Ilana Kadonoff, Sweets from the Earth makes a full line of egg-free, dairy-free, 100 per cent plant-based baked goods. They produce nut-free and gluten-free products.

“We are thrilled to partner with Fengate as we enter the next chapter of the Sweets from the Earth growth story,” said Ilana Kadonoff, founder and co-CEO, Sweets from the Earth. “Fengate was a natural fit from a partnership perspective, and shares both our entrepreneurial spirit and our vision for creating greater access to great-tasting, plant-based, allergy-friendly food products.”

This acquisition represents the second platform investment by Fengate Private Equity in the food and beverage sector in the past 18 months. Ilana Kadonoff and co-CEO Marc Kadonoff will retain a minority stake and continue to lead the business in partnership with Fengate.

Fengate is managing this investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada.

“We are excited to partner with Ilana and Marc and support the next phase of growth at Sweets from the Earth,” said Jennifer Pereira, managing director, head, Fengate Private Equity. “The company has established a market-leading position through its truly unique product offering, which has been built on many years of quality and innovation. They are a perfect fit with our strategy of backing strong management teams with ample runway for growth, and we’re proud to support Canadian entrepreneurs and brands.”

In 2024, Fengate Private Equity acquired Saco Foods, a U.S. food products company with a portfolio of brands including Dolci Frutta, California Sun Dry, Solo Foods, and Hoosier Hill Farm. Saco Foods then acquired Quinoa Corporation and its brands, Ancient Harvest and Pamela’s.