Boxwood Partners Advises Spice Chain Corporation on Its Recent Sale to iSpice Foods
Boxwood adds another high-profile transaction in the growing food ingredients sector
JUPITER, FL – (September 20, 2022) – Boxwood Partners is pleased to announce the sale of Spice Chain Corporation (“Spice Chain” or the “Company), a portfolio company of Frontenac Company, to iSpice Foods, a privately held importer, processor and supplier of spices based in Jackson, AL.
Boxwood Partners, a leading boutique middle-market investment bank based in Jupiter, FL, acted as the exclusive sell-side advisor to Spice Chain on the transaction. The transaction was led by Brian Alas (Managing Director), Madison Day (Vice President) and John Atkinson (Associate). The terms of the deal were not disclosed.
This is Boxwood’s second transaction in the growing spice and seasonings market in 2022. The deal marks another transaction within the food and beverage industry, an increasing area of focus for Boxwood.
Based in East Brunswick, N.J., Spice Chain is an importer, processor, and supplier of premium global spices and seasonings for the industrial, food service and retail end markets. The Company was formed via the merger Van De Vries Spice Corporation and Spiceco in 2015 after the two companies collected over 100 years of experience. With specific cleaning, milling, blending, and packaging capabilities, the Company has serviced a variety of leading customers and top-tier food manufacturers across the country.
About Boxwood Partners
Boxwood Partners, LLC, is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm’s extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm’s clients receive the attention, service, and results they deserve.
For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
About Spice Chain
Headquartered in East Brunswick, New Jersey, Spice Chain, was formed with the acquisition and combination of Van de Vries Spice Corporation and Spiceco. The two New Jersey based companies were merged in February 2015 and subsequently changed their name to Spice Chain Corporation. Together the companies boast over 100 years of experience in spices and seasonings. The Company is one of very few North American Spice, herb and seasonings companies that import direct, process, blend and package spices.
See www.spicechain.com for more information.
About Frontenac
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a leading franchise working with over 275 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning.
See www.frontenac.com for more information.
