Deloitte Corporate Finance LLC Advises Spice World, Inc. in its Recapitalization
CHARLOTTE, NC, Aug. 17, 2018 — Deloitte Corporate Finance (DCF) acted as the exclusive advisor to Spice World, Inc. (Spice World), an Orlando, Florida-based leading supplier of garlic and other spices under the iconic Spice World brand, in its recapitalization with a New York City-based private investment firm. The transaction closed July 3, 2018.
Founded in 1949 and led by multiple generations of the Caneza family, Spice World offers a broad portfolio of garlic and other spice products in a variety of fresh and processed formats — including fresh, peeled and minced garlic and other spices — which are distributed in the U.S. through a broad customer base, including grocery chains, club stores and distributors.
"The Deloitte Corporate Finance team provided sound advice, leveraging its deep experience with founder-owned businesses and knowledge of agriculture and food industries at every stage of the transaction. We truly valued the insight and dedication DCF provided in helping us navigate the process to find a partner for the company’s next stage of growth,” said Gary Caneza, CEO of Spice World. “Spice World is pleased with the result of this transaction and our family looks forward to working toward achieving our growth plan while maintaining our core values.”
“We’ve recently advised on a number of deals in the food and beverage space and expect M&A activity in the space to continue. It was a privilege to advise Spice World through this exciting transaction and help the founding family find a strategic partner for their business,” said Lorin DeMordaunt, a managing director and leader of the consumer business group for Deloitte Corporate Finance LLC. “We look forward to seeing the Spice World brand continue to evolve within retail and foodservice channels.”
About Spice World, Inc. and Affiliates
Spice World has provided retailers with fresh, innovative and on-trend ingredients and spices since its founding in 1949. Spice World is headquartered in Orlando, Florida and has multiple production facilities, and over 200 customers nationally. The Company’s products include fresh, semi-processed and processed garlic and other spices including ginger and shallots. Additional information available at www.spiceworldinc.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. Deloitte Corporate Finance, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.