SK Capital, a private investment firm focused on the specialty materials, ingredients and life sciences sectors, has signed an agreement to acquire Paterson-based J&K Ingredients Inc.
Currently owned by Chicago-based CORE Industrial Partners, J&K is a manufacturer and supplier of food & beverage ingredients with an emphasis on natural, organic and clean-label products.
Terms of the deal were not disclosed. The transaction is expected to close before the end of the year.
Founded in 1899, J&K Ingredients pioneered the bakery industry’s first natural mold inhibitor, Bred-Mate, and remains at the forefront of clean-label ingredients innovation, custom formulation and manufacturing across multiple food & beverage end markets. Beyond its broadly recognized natural mold inhibitor product lines, the company’s comprehensive specialty ingredients offering spans more than 400 items across 13 categories, including bread and roll bases, dough conditioners, egg and milk replacers, flavors, emulsions and stabilizers, among other categories.
“As a differentiated provider of high-value solutions to its customers, J&K represents a business with which we seek to partner,” Dan Lory, principal at SK Capital, said. “We are excited to leverage our expertise in the food ingredient industry and collaborate with J&K to usher in the next phase of growth, building an attractive ingredients platform driven by a proactive commercial strategy and recognized for its comprehensive offering.”
“SK Capital’s history of success in the food & beverage and broader ingredients industry and its focus on accelerating growth make them an ideal partner for J&K. Most importantly, they share our belief that J&K is uniquely positioned for the long term to capitalize on the industrywide movement to clean-label products and are committed to investing in its growth. We look forward to working together to bring ‘better for you’ products to consumers,” Ricardo Alvarez, CEO of J&K Ingredients, said.
Kirkland & Ellis LLP acted as legal counsel to SK Capital. Debt financing will be provided by KeyBanc Capital Markets, Kayne Anderson Private Credit and Benefit Street Partners.
