Shore Capital Partners recapitalises Old World Spices and Seasonings
Shore Capital Partners (Shore) has completed a recapitalisation of Old World Spices and Seasonings (old World), a manufacturer of custom ingredient solutions based in Overland Park, Kansas.
Founded in 1988 as Industrial Ingredient Sales 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 ft manufacturing facility in Concordia, Missouri. The Company also maintains a corporate office and R&D centre 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,” says Russ Meinhardt, CEO of Old World. “Our team is eager to capitalise 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 maximise 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 honoured to partner with them in the next exciting chapter of growth,” says 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.”