Private equity firm Core Industrial Partners has acquired J&K Ingredients, a manufacturer of natural, organic and clean label baked goods ingredients, for an undisclosed sum.
Founded in 1899, J&K Ingredients claims it developed the bakery industry’s first natural mold inhibitor – a clean label alternative which enhances taste, texture, aroma, consistency, and shelf life – more than four decades ago.
Beyond its mold inhibitor product lines, the company offers more than 400 items across 13 categories, including bread and roll bases, dough conditioners, milk replacers, flavours, and emulsions and stabilisers.
With three operating facilities in New Jersey, J&K Ingredients serves global customers including commercial bakeries, and bakery product wholesalers and distributors.
Following the deal, Chicago-based Core says it aims to accelerate the ingredients company’s growth with strategic acquisitions to expand its customers base, product offering and market reach.
“The food industry continues to covert to clean label ingredients in response to consumer demand, and we believe J&K is well-positioned to benefit from this powerful tailwind given its scalable operations, broad portfolio of products and in-house ability to innovate and develop new formulations through its cutting-edge R&D lab,” said John May, managing partner of Core.
Jim Sausville, president of J&K Ingredients, added: “As a fourth-generation owner of a family business proudly tracing its founding back to the 19th century, I was looking for the perfect partner that could provide the resources and support to execute substantial growth opportunities while respecting our unique history, culture and values. Core is the ideal fit, and on behalf of all J&K Ingredients employees, we’re excited to kick off this next phase of company growth.”
© FoodBev Media Ltd 2020