Press release


Antwerp & Braine l’Alleud, February 20, 2025, 07:30 CET



Gimv fuels The Spice Factory’s next chapter, scaling its private
label and foodservice brands across Europe
Gimv is pleased to announce the acquisition of The Spice Factory (TSF), the market
leader in private label dried culinary herbs & spices in the Benelux, serving both
retailers and foodservice players with high-quality, customized solutions. With a
strong foundation in private label for retail and a branded foodservice offering
through its ISFI brand, TSF is poised to accelerate its international expansion.

Founded and based in Braine l’Alleud, Belgium, “Over the years, we have built TSF into the
The Spice Factory (TSF) (thespicefactory.com), partner of choice for retailers and foodservice
has built a strong reputation as a trusted players, offering customized solutions that go
partner to leading retailers, offering a beyond the traditional private label
distinctive branded approach to private label. approach”, adds Jorgen De Pelsmaeker, CEO
The company sets itself apart by combining of TSF. “With Gimv’s backing, we are confident
deep category expertise, a relentless focus on in our ability to accelerate our international
quality, and tailored, value-added solutions to growth, both organically and through selective
help its customers stand out in an increasingly buy-and-build, while continuing to innovate
competitive market. and create value for our customers.”

With Gimv’s support, TSF will strengthen its The transaction is expected to close before the
market position and broaden its international end of March 2025. No further financial details
reach, leveraging its unmatched production will be disclosed.
flexibility and its ability to offer innovative and
customer-driven solutions for retail and
foodservice players.

Gimv acquires a majority stake from Gilde
Equity Management and Davy De Muyer.
Jorgen De Pelsmaeker, CEO, and the
management team will reinvest alongside
Gimv as the company embarks on its next
phase of growth.

“We are excited to partner with Jorgen and the
TSF team in their expansion strategy”, say David
De Peuter & Laurens Boriale, respectively
Partner and Principal in the Gimv Consumer
team. “This acquisition is a first step in putting to
work the capital Gimv recently raised,
supporting Gimv Consumer’s strategy to invest
in leading consumer businesses with strong
growth potential to scale internationally and
further enhance their market differentiation.”




Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - www.gimv.com 1
Antwerp & Braine l’Alleud, February 20, 2025, 07:30 CET

Press release




About Gimv

Gimv is a European investment company, listed
on Euronext Brussels and a member of the
Euronext BEL ESG Index. With 45 years of
experience in private equity, Gimv currently has
an investment portfolio of more than EUR 1.7
billion. The portfolio contains around 60 portfolio
companies, with combined turnover of EUR 4.0
billion and more than 20,000 employees.

As a recognized market leader in selected
investment platforms, Gimv identifies
entrepreneurial, innovative companies with high
growth potential and supports them in their
transformation into market leaders. Gimv's five
investment platforms are Consumer, Healthcare,
Life Sciences, Smart Industries and Sustainable
Cities. Each platform works with an experienced
team across Gimv’s home markets of Benelux,
France and DACH, supported by an extended
international network of experts.

Further information on Gimv can be found on
www.gimv.com.

For further information please contact:

Koen Bouckaert
Managing Partner – Head of Consumer
T +32 3 290 21 31
koen.bouckaert@gimv.com

David De Peuter
Partner Consumer
T +32 3 290 22 02
david.depeuter@gimv.com




Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - www.gimv.com 2