Olde Thompson, a manufacturer of private-label and branded spices and seasonings, has acquired New Jersey-based company, Gel Spice.
Founded in 1955, Gel Spice is a family-owned importer and manufacturer of spices, bakery ingredients and seasonings, for both retail and foodservice.
California-based Olde Thompson is a portfolio company of Kainos Capital, a private equity firm focused exclusively on the food and consumer products sectors.
Kainos says that the purchase deal expands Olde Thompson’s product offering into pouches, extracts and single-serve seasonings for applications such as meal kits, as well as unlocking additional customer channels.
“By adding Gel, Olde Thompson will have not only a bi-coastal operation, but also significantly scaled production and distribution capabilities with material capacity to bring on new business,” said Andrew Rosen, managing partner of Kainos Capital.
“The transaction also adds a strong sales force, allowing Olde Thompson to serve additional customers in new channels.”
Gel CEO David Sugarman, who has become Co-CEO of Olde Thompson, added: “The Engel family, which will continue to be a shareholder, and I are thrilled to be part of Olde Thompson.
“The combination will enable us to better serve our customers by leveraging the capabilities at Olde Thompson, including their extensive organic spice portfolio and glass bottling capabilities. With two SQF Level 2 facilities located on each coast, we are now able to provide more efficient distribution and redundant supply to our customers.”
The financial terms of the transaction have not been disclosed.
© FoodBev Media Ltd 2021
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