Midas Foods International, a leader in food ingredients based in the US, has strategically acquired JM Exotic Foods to significantly enhance its retail channel presence.
The financial specifics of this acquisition, which includes a seven-acre processing facility in Moody, Alabama, have not been disclosed.
In an official statement, Michigan-based Midas Foods highlighted that the acquisition of JM Exotic Foods adds “expertise in foodservice and retail spice packaging” to its portfolio.
Midas Foods specializes in supplying dry-blend sauces, gravies, glazes, and desserts to B2B clients across the food-manufacturing and foodservice sectors.
This acquisition involves JM Exotic Foods’ former owners, Jeff Johnston and Sidney Page.
Midas Foods described the acquisition as a “major step forward” in its mission to “establish a national manufacturing footprint and broaden its offerings.”
JM Exotic Foods, established in 1989, produces products under its brands, including Sure Shot Sid’s and Mojo Mama, while also manufacturing private label goods for retailers.
Richard Elias, president of Midas Foods, stated: “This acquisition not only enhances our packaging processing capabilities but also adds significant value to our customers.”
He further added, “We are excited to invest in JM Exotic Foods with a robust capital program aimed at expanding high-speed processing for both foodservice and retail markets. Together, we will deliver a comprehensive range of innovative solutions that set new standards for quality and efficiency.”
Moreover, the existing management team of JM Exotic Foods will remain intact, and 30 staff members will transition to Midas Foods.
Johnston remarked: “For years, we have excelled in processing spices and seasonings but lacked the in-house culinary R&D and extensive capabilities Midas provides.”
He continued, “Now, with their team of expert chefs and food technologists, we can offer an unparalleled growth engine for our customers. Even before the transaction closed, we were seeing new opportunities and exciting project developments.”
