CHICAGO & OVERLAND PARK, Kan.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a recapitalization of Old World Spices and Seasonings (the “Company” or “Old World”), a manufacturer of custom ingredient solutions based in Overland Park, Kansas.
Founded in 1988 as Industrial Ingredient Sales, Inc. by John Jungk, Old World is a manufacturer of custom blended spices, seasonings, ingredients, dry food products, and sauces for the retail, foodservice, and industrial channels. Old World operates out of an SQF certified 78,000 sq. foot manufacturing facility in Concordia, Missouri. The Company also maintains a corporate office and R&D center in Overland Park, Kansas. The Company offers R&D and co-development support, flexible and nimble manufacturing services, and diverse packaging options to its valued customers.
Shore Capital is partnering with the Company’s management team, which has helped guide Old World through a period of tremendous expansion since setting out on a new growth strategy in 2013.
“We are thrilled to announce our partnership with Shore Capital, and we are confident our combined teams, networks, and resources will further enhance our ability to provide best-in-class service, innovative solutions, and quality products to our customer partners,” said Russ Meinhardt, CEO of Old World. “Our team is eager to capitalize on the significant opportunity for growth and consolidation in the spices, seasonings, and specialty ingredients space, and we look forward to working with the Shore team to maximize our potential.”
Shore plans to invest in the business development, research and development, sales and marketing, and production infrastructure of the Company to further refine operations. Together, Old World and Shore will explore opportunities for inorganic growth through acquisitions, and organic growth through adjacent product lines, manufacturing capabilities, and distribution channels.
“John, Walt, Russ, Amy, Beth and the rest of the Old World team have built an amazing business and we are truly honored to partner with them in the next exciting chapter of growth,” said Richard Boos, Partner at Shore Capital and Chairman of Old World. “We look forward to building the business with a keen focus on existing customer partnerships and expansion into new relationships.”
About Shore Capital
Shore Capital is a Chicago-based private equity firm focused on microcap investments within the Healthcare and Food and Beverage industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information, please visit: www.shorecp.com.