WEST DES MOINES, Iowa – Midwest Growth Partners (“MGP”), a West Des Moines, Iowa and Omaha, Nebraska based private equity fund, announces an investment in Adams Flavors, Food & Ingredients, LLC (“Adams” or the “Company”) in partnership with Daniel Shannon, Valesco Industries, Deason Capital, and Brookside Capital Partners.
Founded in 1888, Adams has become a staple in the flavors, extracts, and spices industry, with their legacy brands transcending through generations, recessions, and economic growth cycles. As the creator of the first Red Velvet Cake recipe and designer of the first 4-pack food coloring product, Adams has been innovating and changing the food ingredient space for decades.
Adams is a leading manufacturer of flavors, extracts and spices sold to consumers through retail supermarkets and directly to food manufacturers. The products are necessary for culinary flavoring purposes and are incorporated into a variety of food products. In addition to their legacy Adams branded products, Adams offers various wet extract and dry spice production and packaging capabilities to some of the nations most respected private label brands and historic regional seasoning brands. Adams branded products are sold in the southeastern United States, with private label products sold nationally.
“Adams is well positioned for its next phase of growth and excited for its newest partnership with this transaction,” said CEO and President, Dan Shannon. “Our ‘culinary first’ approach allowed us to grow significantly by expanding our private label customer base while also reinvesting in growing our brand to new regions of the country.”
Zane Hendricks, Vice President of Midwest Growth Partners stated, “Adams has an impressive legacy of innovation and quality within flavors, extracts, and spices and we are thrilled to partner with the management team in the next chapter of the Company’s evolution.”
For more information on Adams, please visit https://www.adamsextract.com/.