Gulf Pacific, a value-added packager and processor of high-quality specialty foods and ingredients, including imported fragrant and organic rice varieties, rice flours, stabilized rice bran and ancient grains, completed a majority recapitalization with Eos Partners and its affiliates. Gulf Pacific acquired Southwest Spice as part of the transaction, a value-added packager and processor of dry edible beans and spice blends. Terms of the transactions were not disclosed.
“I am looking forward to the successful integration of Gulf Pacific with Southwest Spice given their natural compatibility with the way many people eat today,” Christian Brenckmann, CEO of Gulf Pacific, said. “I am very optimistic about our future and the further value we can bring to the business segments we serve.”
“Gulf Pacific has a strong customer value proposition based on its breadth and depth of product offerings and its service-oriented approach. The combination of Gulf Pacific and Southwest Spice will allow the Company to provide new and existing customers with an expanded assortment of products,” Craig Gottesman, principal with Eos, said. “Together with Christian and the Gulf Pacific team, we look forward to supporting the Company’s next chapter of growth, both organically and through acquisition.”
Debt financing for the transaction was provided through a new senior credit facility led by Kayne Anderson Capital Advisors. Lincoln International served as sole placement agent for the debt financing. Goldman Sachs served as financial advisor to Gulf Pacific. Winston & Strawn, served as legal counsel to Eos.