PATERSON, NJ. — Private equity firm SK Capital Partners, LP, announced Nov. 20 it has completed its acquisition of J&K Ingredients, Inc., from former private equity owner CORE Industrial Partners. Financial details of the transaction were not disclosed. The acquisition was first announced in October.
“At J&K, we are very excited for our next chapter in partnership with SK Capital,” said Ricardo Alvarez, Ph.D., chief executive officer of J&K Ingredients. “We look forward to continuing to provide best-in-class service to our customers while enhancing our commercial strategy and clean label product portfolio.”
SK Capital focuses its investments on companies in the specialty materials, ingredients and life sciences sectors. J&K Ingredients fits into the private equity’s ingredients segment as a leader in the bakery, food and beverage, and pet food ingredient space. J&K is responsible for Bred-Mate, a natural mold inhibitor for the baking industry, as well as SOR-Mate, which represented the first high-efficacy, clean label potassium sorbate alternative for use in bakery, beverages, pet food, snacks and dairy, according to SK Capital Partners.
“Clean label food preservation technologies are an increasingly important pillar of sustainability by reducing food waste and the associated environmental footprint, and J&K has already established itself as a critical, value-added clean label partner to its bakery customers,” said Mario Toukan, managing director of SK Capital. “We feel privileged to play a part in bringing clean label preservative solutions to the broader food and beverage industry with SOR-Mate, as well as in building out a more comprehensive suite of natural and clean label solutions as we embark on J&K’s next phase of growth.”
SK Capital Partners will seek to amplify growth for J&K Ingredients and advance its core competencies in clean label, natural and organic products.
“SK Capital has significant experience investing in ingredients businesses, and we believe J&K represents a tremendous opportunity to create a leading clean label ingredients platform,” said Dan Lory, principal at SK Capital. “We are thrilled to be partnering with the J&K team to build upon the Company’s stellar reputation and technical achievements to-date.”
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