Deloitte Corporate Finance acted as the exclusive advisor to Spice World in its recapitalization with a New York City-based private investment firm.
Founded in 1949 and headquartered in Orlando, FL Spice World supplies garlic and other spices 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 grocery chains, club stores and distributors. The company has been led by multiple generations of the Caneza family.
“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, leader of the consumer business group for Deloitte Corporate Finance. “We look forward to seeing the Spice World brand continue to evolve within retail and foodservice channels.”
