Add-on Acquisition • Food

iSpice Foods Acquires Spice Chain

On September 20, 2022, iSpice Foods acquired food company Spice Chain from Frontenac

Acquisition Context
  • This is iSpice Foods’ 1st transaction in the Food sector.
  • This is iSpice Foods’ 1st transaction in the United States.
  • This is iSpice Foods’ 1st transaction in New Jersey.

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M&A Deal Summary

Date September 20, 2022
Target Spice Chain
Sector Food
Buyer(s) iSpice Foods
Sellers(s) Frontenac
Deal Type Add-on Acquisition
Advisor(s) Boxwood Partners (Financial)

Target Company

Spice Chain

East Brunswick, New Jersey, United States
Spice Chain Corporation is an importer, processor, packager and supplier of premium quality ingredients to the foodservice, private label retail and food manufacturing industries.
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Buyer Overview 1

Buyer

iSpice Foods

Jackson, Alabama, United States

Category Company
Sector Food
DESCRIPTION

iSpice Foods is an importer, processor and supplier of spices based in Jackson, Alabama.


Deal Context for Buyer #
Overall 1 of 1
Sector: Food 1 of 1
Type: Add-on Acquisition 1 of 1
State: New Jersey 1 of 1
Country: United States 1 of 1
Year: 2022 1 of 1

Seller Profile 1

SELLER

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest US-based private equity firm that seek profitable, lower middle-market company investments with $5 to $25 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 57 of 60
Sector: Food 6 of 6
Type: Add-on Acquisition 20 of 22
State: New Jersey 4 of 5
Country: United States 55 of 58
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-29 Dealer Services Network

Deerfield Beach, Florida, United States

DSN is a technology-enabled platform that automates and streamlines the title, registration and compliance processes for mobility companies and consumers alike. Its proprietary DealTracker™ platform delivers TaaS™ (Title as a Service), workflow, content management and compliance solutions. Dealer Services Network is based in Deerfield Beach, Florida.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-20 Zipline Logistics

Columbus, Ohio, United States

Zipline Logistics is a tech-enabled, asset-light, third-party logistics (3PL) provider specializing in the food and beverage, consumer packaged goods and healthcare end markets. Zipline Logistics was founded in 2007 and is based in Columbus, Ohio.

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