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Kainos Capital To Sell Olde Thompson to Olam Food Ingredients

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DALLAS, April 28, 2021 /PRNewswire/ — Kainos Capital (“Kainos”), a food and consumer-focused private equity firm, today announced that it has agreed to sell its portfolio company Olde Thompson to Olam Food Ingredients, an operating group of Olam International (SGX: 032), a global food and agri-business, in a transaction valued at $950 million. Olde Thompson was acquired by Kainos in May 2018.

Headquartered in Oxnard, California, Olde Thompson is the largest dedicated manufacturer and supplier of private label dry spices and seasonings in North America. Last year Olde Thompson acquired Gel Spice, which further established it as a leader in the spice category.  The acquisition created a differentiated bi-coastal manufacturing footprint, unlocked additional channels, and expanded the company’s product offering into pouches, extracts and single serve seasonings for meal kits and other applications.

The Kainos team has invested over $2 billion of equity in over 75 investments with a total value over $12 billion over the last 25 years. Kainos specializes in investing in family and founder owned businesses where it can be a value-added partner and instill a culture of operational excellence through its sales development, manufacturing, supply chain and administrative expertise.

Andrew Rosen, Managing Partner of Kainos, said, “Our investment in Olde Thompson was driven by our thesis in the growing importance of spices and flavorings as consumers seek bolder taste profiles.  After meeting Jeff Shumway, the founder of Olde Thompson, nearly a decade ago, we ultimately partnered in 2018 to pursue our shared vision to grow Olde Thompson into the largest dedicated private label provider of spices and seasonings. We accomplished this by investing in our manufacturing capabilities and customer development resources, and the acquisition of Gel Spice from the Engel family in 2020 helped accelerate this strategy and was instrumental in attracting the interest of a terrific strategic acquiror in Olam.”

Jeff Shumway, Chairman of Olde Thompson, said, “Our family acquired Olde Thompson in 1966 when the company primarily sold pepper mills that remain a fixture in homes across the country. Over the years, with the help of our incredible employees, we transformed our company into one of the largest spice companies in the U.S.  A turning point in our history was when we partnered with Kainos and its operations team, enabling us to attract world-class talent to professionalize our management team and embark on a capacity expansion and automation plan to make us one of the most efficient spices producers in the industry.  We have had a relationship with Olam for more than 15 years, and this broader partnership as part of the Olam family represents an exciting new chapter for Olde Thompson.”

David Sugarman, CEO of Olde Thompson, said, “The acquisition of Olde Thompson by Olam is a terrific outcome for all of our key stakeholders.  For our customers, this partnership pushes Olde Thompson to the forefront of ESG as it provides access to Olam’s extraordinary international sourcing capabilities and spice expertise that will allow us to provide a new level of traceability and transparency to the marketplace. Our employees will benefit from additional resources and opportunities that will accelerate our growth even further.”

Andrew Rosen concluded, “This transaction with Olam is a terrific outcome for Olde Thompson and the company’s future has never been brighter.”

Completion of the transaction is expected in Q2 2021.

Sawaya Partners LLC and Lazard served as financial advisors to Olde Thompson.  Weil, Gotshal & Manges LLP served as legal counsel to Olde Thompson.

About Kainos Capital
Kainos Capital is a middle market private equity firm with an exclusive focus on the food and consumer sector. The Kainos team has extensive investment and operating experience in the industry, having invested more than $2 billion of equity in more than 75 transactions with a total transaction value of more than $12 billion. The firm’s strategy is to build a diversified portfolio of growing and strategically relevant food and consumer businesses that trade buyers would like to acquire. For more information, visit www.kainoscapital.com.

About Olam International
Olam is a leading food and agri-business supplying food, ingredients, feed and fibre to 17,300 customers worldwide. Our value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a sourcing network of an estimated 5 million farmers.

Through our purpose to ‘Re-imagine Global Agriculture and Food Systems’, Olam aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all our stakeholders.

Headquartered and listed in Singapore, Olam currently ranks among the top 30 largest primary listed companies in terms of market capitalization on SGX-ST.

Since June 2020, Olam has been included in the FTSE4Good Index Series, a global sustainable investment index series developed by FTSE Russell, following a rigorous assessment of Olam’s supply chain activities, impact on the environment and governance transparency. The FTSE4Good Index Series identifies companies that demonstrate strong Environmental, Social and Governance (ESG) practices and is used by a variety of market participants to create and assess responsible investment funds.

To subscribe to the Olam Newsroom please visit www.olamgroup.com (privacy statement here). If you do not wish to receive information from Olam please contact [email protected]

More information on Olam can be found at www.olamgroup.com
Follow @olam
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Olam is located at 7 Straits View, Marina One East Tower #20-01, Singapore 018936.
Telephone: +65 63394100, Facsimile: +65 63399755.

About Olam Food Ingredients
Olam Food Ingredients (OFI) is a new operating group born out of Olam International Limited. OFI offers sustainable, natural, value-added food and beverage ingredients and solutions so that consumers can enjoy the healthy and indulgent products they love. It consists of Olam’s industry-leading businesses of Cocoa, Coffee, Nuts, Spices and Dairy.

OFI has built a unique global value chain presence including its own farms, farm-gate origination and manufacturing facilities. OFI partners with customers, leveraging its complementary and differentiated portfolio of “on-trend” food and beverage products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that’s traceable and sustainable.

Contact:
Jonathan Morgan
Kekst CNC
[email protected]
(212) 333-5525

SOURCE Kainos Capital

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Former Fairstone VP Joe Carusella, Joins FIX4’s Executive Team on a Mission to Transform Car Repair Loan Market

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TORONTO, May 6, 2021 /PRNewswire/ – New Canadian retail finance company FIX4 Capital is pleased to announce today the appointment of Joe Carusella to Vice President, Corporate Development/ Partnerships. Carusella brings over twenty-five years of experience in retail finance and the automotive industry.

Joe will develop market positioning and drive growth for FIX4 in Canada as well as seek partnership opportunities that will expand FIX4’s National footprint.

“We are excited to have Joe join the executive team” said Tave Della Porta, Chief Executive Officer of FIX4 Capital. “Joe is a proven senior executive and a strong strategic thinker. His 20 years plus experience in automotive retail finance, and his skill set for leading star operations and business development will no doubt add bench strength to our operations.”

In response to his recent appointment, Carusella added, “Having been in the Auto industry for the past two decades, I have seen a variety of financing platforms in both the prime and non-prime segments.  I decided to associate myself to FIX4 Capital because I see the core of their approach as “Responsible Financing”.  This way of financing is a true disruptor to the traditional ways to determine the amounts of the loans.  I am excited to be part of this evolution in the automotive financing world”.

Most recently, Carusella was VP Sales – Auto Solutions at Fairstone Financial. He has also held executive positions at Equifax Canada, Desjardins, NextGear Capital and Automotive Finance Corporation.

Dealerships and Auto Repair Centers interested in finding out more about the FIX4 auto repair financing program for their customers can call them at 1-855-831-1186 or visit fix4.com

About FIX4 Capital Inc.: FIX4 Capital is an independently financed Fintech company that offers auto repair loans to consumers through its proprietary software and repair service center network. With FIX4, registered service centers can increase revenues and enhance overall customer retention. FIX4 has offices in Toronto, Ontario & Montreal, Quebec Canada.

SOURCE FIX4 Capital Inc

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Gen II Fund Services Announces Assets Under Administration Exceed $450 Billion

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NEW YORK, May 6, 2021 /PRNewswire/ — Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced that the firm’s assets under administration (AUA) now exceed $450 billion.

Gen II now services over 200 fund sponsors spanning the private equity industry, including buyout, fund of funds, real estate, infrastructure, credit, and other closed end structures. Gen II’s clients include many of the industry’s most established private equity firms along with private equity’s premier emerging managers.

“We are very pleased to reach this notable milestone in the continuing evolution of Gen II,” said Steven Millner, Managing Principal and Co-Founder, Gen II. “The increase in our AUA is evidence of the soundness of Gen II’s Well-Run Fund approach and our ability to support clients across various strategies and geographies. We look forward to continuing to serve clients with best-in-class fund administration and technologies to help them achieve their business objectives.”

“Gen II is fortunate to have nearly 100% client retention, indicative of our ability as the largest independent private equity fund administrator to provide scalable solutions to support our clients’ growth,” said Norman Leben, Managing Principal and Co-Founder, Gen II. “We would like to offer our sincere thanks to the range of sponsors with whom we have worked for their confidence in Gen II. We also extend our gratitude to the experienced and long-tenured Gen II team, which we consider among the finest in fund administration, for providing the high-touch, premium service that is the hallmark of Gen II.”

About Gen II
Gen II is one of the largest independent private equity fund administrators, administering over $450 billion of private capital on behalf of its clients with offices in New York, San Francisco, Boston, Stamford, Dallas, and Luxembourg. Gen II offers private fund sponsors a best-in-class combination of people, process, and technology, enabling fund sponsors to effectively manage their operational infrastructure, financial reporting, and investor communications. The Gen II team is one of the most experienced and longest tenured teams in the private equity fund administration industry, with broad expertise across buyout, funds of funds, real estate, energy, infrastructure, credit, co-investment, hybrid funds, feeder funds, venture capital, retail, and managed accounts. For more information, please visit www.gen2fund.com.

Contact:
Philip Nunes
BackBay Communications
617.391.0792
[email protected] 

SOURCE Gen II Fund Services, LLC

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Global Food Packaging Market (2021 to 2026) – Industry Trends, Share, Size, Growth, Opportunity and Forecasts

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DUBLIN, May 6, 2021 /PRNewswire/ — The “Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The global food packaging market reached a value of US$ 311.4 Billion in 2020. Food packaging plays a vital role in preserving and transporting food items to their desired location without affecting the taste or quality. It protects the contents from moisture and toxins, prevents the food products from spillage and tampering, and helps retain their shape and quality. Food packaging has also gained traction as a means of information transmission, such as the nutritional content, expiry date, price and origin of the packaged products. It also acts as a modern marketing medium for sellers to attract consumers worldwide.

A rapid change in the food preferences of consumers, coupled with the expanding food retail sector across the globe, is one of the major factors catalyzing the growth of the market. In addition, the surging working population, rising disposable incomes and hectic lifestyles have led to the rising consumption of fast food and ready-to-eat products. Owing to this, the leading companies are investing in research and development (R&D) operations to enhance product shelf-life and develop anti-microbial packaging materials. They are also introducing lightweight solutions to reduce transportation costs and related emissions.

Moreover, with the rising environmental concerns, manufacturers are adopting eco-friendly food packaging made using materials that are biodegradable or can be easily recycled, reused and renewed. Looking forward, the publisher expects the global food packaging market to exhibit moderate growth during the next five years.

Breakup by Packaging Type:

  • Flexible
  • Paper and Paperboard
  • Rigid Plastic
  • Glass
  • Metal
  • Others

Currently, flexible packaging is the most popular type, accounting for the majority of the global market share.

Breakup by Application:

  • Bakery, Confectionery, Pasta, and Noodles
  • Dairy Products
  • Sauces, Dressings, and Condiments
  • Snacks and Side Dishes
  • Convenience Foods
  • Meat, Fish, and Poultry
  • Fruits and Vegetables
  • Others

Amongst these, the bakery, confectionery, pasta, and noodles segment dominates the market, holding the largest market share.

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
  • On the geographical front, North America represents the largest food packaging market globally, on account of the well-established food processing industry in the region

Competitive Landscape:

The competitive landscape of the market characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality.

Some of the leading players operating in the market are:

  • Amcor PLC
  • Crown Holdings Incorporated
  • Owens-Illinois Inc.
  • Tetra Pak Ltd.
  • American Packaging Corporation
  • Ball Corporation

Key Questions Answered in This Report:

  • How has the global food packaging market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What are the leading application segments in the market?
  • What has been the impact of COVID-19 on the global food packaging market?
  • What are the major packaging types used in the market?
  • What are the various stages in the value chain of the global food packaging market?
  • What are the key driving factors and challenges in the global food packaging market?
  • What is the structure of the global food packaging market and who are the key players?
  • What is the degree of competition in the global food packaging market?

Key Topics Covered:

1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Food Packaging Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Margin Analysis
5.5 Market Breakup by Packaging Type
5.6 Market Breakup by Application
5.7 Market Breakup by Region
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.11 Porters Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes

6 Market Breakup by Packaging Type
6.1 Flexible Packaging
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Paper and Paperboard Packaging
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Rigid Plastic Packaging
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Glass Packaging
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Metal Packaging
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast

7 Market Breakup by Application
7.1 Bakery, Confectionery, Pasta, and Noodles
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Dairy Products
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Sauces, Dressings, and Condiments
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Snacks and Side Dishes
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Convenience Foods
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Meat, Fish, and Poultry
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Fruits and Vegetables
7.7.1 Market Trends
7.7.2 Market Forecast
7.8 Others
7.8.1 Market Trends
7.8.2 Market Forecast

8 Market Breakup by Region
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Asia Pacific
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast

9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
9.3 Profiles of Key Players
9.3.1 Amcor PLC
9.3.2 Crown Holdings Incorporated
9.3.3 Owens-Illinois Inc.
9.3.4 Tetra Pak Ltd.
9.3.5 American Packaging Corporation
9.3.6 Ball Corporation

For more information about this report visit https://www.researchandmarkets.com/r/1tb2jb


Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]   

For E.S.T Office Hours Call +1-917-300-0470
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U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

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Cytracom Introduces Shared Inboxes to Deliver New Text Messaging Solutions within its Business Messaging Product Line

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DALLAS, May 6, 2021 /PRNewswire/ — Cytracom, the leading provider of small and medium business (SMB) communications solutions delivered exclusively through managed service providers (MSPs), today announced Shared Inboxes within its Business Messaging product line.  Cytracom Shared Inboxes, the first such solution to be developed by a unified communications provider, enables business teams to communicate with customers via text message, collaborate, and reply from a single business phone number—all from within their Cytracom Desktop and Mobile applications.

“The modern workforce has changed. 85% of customers prefer to text a business as opposed to calling or emailing,” said Zane Conkle, CEO and Co-Founder of Cytracom. “To stay relevant, stay competitive, and deliver the best customer experience, businesses need to adapt – they need to text – and they need the right tools to do that effectively.”

As customer communication preferences increasingly trend toward text messaging, SMBs face new challenges that one-to-one texting fails to resolve. Oftentimes, customers want to send a text message to phone numbers published on existing marketing collateral or those associated with dedicated teams, such as customer service or sales. Businesses also need the ability to proactively reach out to consumers via text, and do so as the business entity, not an individual employee.

Since its launch in 2019, Cytracom Business Messaging has delivered powerful text messaging functionality to business users, including both SMS and MMS capabilities across mobile and desktop applications. The addition of Shared Inboxes extends the utility of text messaging to business teams. Now, multiple users can send and receive messages using a single company phone number. They can privately collaborate amongst colleagues to assess customer needs and ensure the right response—all within a seamless conversational thread.

Cytracom Shared Inboxes delivers on two key requirements that have historically prevented businesses from adopting this essential form of communication:

A Single, Unified Business Persona
Siloed conversations can fracture a business’ voice. With Shared Inboxes, businesses can engage directly with customers from a single business persona, and customers can connect to the business through a single business number. Externally, customers experience one point of contact and one voice—while behind the scenes, teams work together to efficiently and effectively meet customer needs.

One-to-Many, Enhanced with Rich Collaboration
Beyond allowing multiple users to communicate via a single number, Shared Inboxes employs unique collaboration functionality to harness the power of teams in a new way. Colleagues can collaborate privately, in real-time, to review messages, coordinate answers, and respond to customers—without ever leaving the message thread.

With rich features like the ability to assign a priority to the conversation and monitor which colleagues are participating—who is viewing and typing—employees can manage ongoing communication efficiently.

Plus, all of this happens transparently to the customer. No longer do businesses need to rely on additional tools to facilitate internal discussion around customer communication or worry about a single user as a point of failure.

The combination of powerful traditional text messaging features along with the introduction of Shared Inboxes makes Cytracom’s Business Messaging platform the most comprehensive messaging solution in the industry.

Availability
Business Messaging with Shared Inboxes is now available. Contact Cytracom for more information: Text 877.411.2987 or email: [email protected]

About Cytracom
Cytracom is Connecting the Modern Workforce by empowering small and medium-sized businesses (SMBs) with powerful yet intuitive cloud-based communication solutions. Cytracom is exclusively available through its extensive network of managed service providers (MSPs) across the United States. The partner program offers tools and solutions that enable MSPs to efficiently deploy and manage the full product suite for their SMB clients. This unique channel focus combined with a purpose-built and innovation-focused product line delivers an unparalleled solution in the market. To learn more visit cytracom.com.

Contact:
Noah Sessions
Cytracom
469.607.8787
[email protected]

SOURCE Cytracom

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