Olde Thompson acquires New Jersey-based Gel Spice

Olde Thompson, a portfolio company of private equity firm Kainos Capital, has expanded its presence in the US spices and seasonings segment with the acquisition of Gel Spice for an undisclosed sum.

Based in Bayonne, New Jersey, Gel Spice manufactures and imports spices, seasoning, bakery ingredients and speciality items for retail, foodservice, industrial and export channels.

Olde Thompson CEO Jeff Shumway said: “Olde Thompson is thrilled to partner with Gel to expand our platform.

“Through the addition of Gel and the combination of our sales forces, we broaden our reach by adding customers within the retail, food service, bakery, industrial and export channels while also increasing our product offerings to include dry mixes, extracts and single-serve seasonings for meal kits.

“We are now the largest private label focused spice company dedicated to providing complete category solutions.”

With this deal, Olde Thompson is said to have bolstered its presence in the spices segment with a bi-coastal manufacturing footprint.

The transaction will also allow Olde Thompson to enhance its product offering into pouches, extracts and single-serve seasonings for meal kits and other applications.

Gel Spice CEO David Sugarman said: “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.”

As part of the deal, Sugarman will become co-CEO of Olde Thompson.

In September 2018, Kainos Capital sold clean label solutions provider Florida Food Products to an affiliate of MidOcean Partners.