PATERSON, N.J.--(BUSINESS WIRE)--Funds advised by SK Capital Partners, LP (“SK Capital”), a private investment firm focused on the specialty materials, ingredients, and life sciences sectors, have completed their previously announced acquisition of J&K Ingredients, Inc. (“J&K” or the “Company”) from CORE Industrial Partners (“CORE”).
J&K, headquartered in Paterson, New Jersey, is a market-leading provider of food and beverage ingredients solutions with an emphasis on natural, organic, and clean label products. The Company differentiates itself with extensive custom formulation and new product development capabilities, leveraging deep expertise in quality, function, and compliance. J&K developed the bakery industry’s first natural mold inhibitor, Bred-Mate, more than four decades ago, and provides a complete suite of specialty ingredients such as egg & milk replacements, emulsions, flavors, and bread bases to the bakery market today. In 2019, the Company launched SOR-Mate, the first high-efficacy clean label alternative to potassium sorbate for use across a wide range of product categories including bakery, beverages, snacks, pet food, and dairy.
“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.”
Dan Lory, Principal at SK Capital added, “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. We are thrilled to be partnering with the J&K team to build upon the Company’s stellar reputation and technical achievements to-date.”
“At J&K, we are very excited for our next chapter in partnership with SK Capital,” said Ricardo Alvarez, Ph.D., CEO 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.”
Debt financing was provided by KeyBanc Capital Markets, Kayne Anderson Private Credit, and Benefit Street Partners.
About SK Capital:
SK Capital is a private investment firm with a disciplined focus on the specialty materials, ingredients, and life sciences sectors. The Firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term economic value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $15 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The Firm currently has approximately $7.9 billion in assets under management. For more information, please visit www.skcapitalpartners.com.
About J&K Ingredients:
Founded in 1899, J&K Ingredients is a leading manufacturer in the world of bakery, food & beverage, and pet food ingredients, that has carved a niche in food preservation solutions. J&K Ingredients work with a diverse range of industry segments including the baking industry, food processing and manufacturing, foodservice providers, food packaging industry, and the nutraceuticals and functional foods sector. With its deep technical expertise and customer service, J&K Ingredients helps businesses and organizations maintain the quality and freshness of their food products. Headquartered in and operating three facilities in Paterson, New Jersey, J&K Ingredients holds FDA, Halal, Kosher, FSSC 22000, and organic certifications. For more information, visit www.jkingredients.com.
