Partnership positions the Union, N.J.–based ingredient supplier for its next phase of expansion

WASHINGTON, DC, June 29, 2026 /PRNewswire/ -- Awani Capital Management, LP ("Awani"), a middle market private equity firm focused on essential business and industrial services, announced today a strategic partnership with the owners of Kalustyan, a leading provider of specialty ingredients to spice blenders, food processors, flavor and fragrance manufacturers, and private-label bottlers. The partnership positions Kalustyan to accelerate growth and expand its market leadership through Awani's operational and strategic capabilities, capital, and experience scaling founder-led businesses, while building on the company's longstanding reputation for quality, reliability, and customer service.

"In Awani, we have found a partner with experienced professionals to help us accelerate growth and pursue new opportunities. Importantly, our day-to-day operations and our 35-year commitment to delivering exceptional service remain unchanged. We share a common vision for the future of Kalustyan, and this partnership strengthens our ability to achieve it," said Errol Karakash, CEO of Kalustyan.

The investment will fund expanded capacity, deeper sourcing relationships, ongoing operational improvements, and enhanced customer service, while preserving the company's existing leadership and culture.

"We are honored to partner with Errol, Serge, and the Kalustyan team to build on the company's remarkable legacy," said T. Otey Smith at Awani. "For more than three decades, Kalustyan has distinguished itself through deep sourcing expertise, exceptional quality, and unwavering customer service. We look forward to supporting the next phase of growth while carrying forward the entrepreneurial culture and values that have driven its success."

Terms of the transaction were not disclosed.

About Kalustyan: Headquartered in Union, New Jersey, Kalustyan is a leading specialty ingredients supplier serving industrial spice blenders, food processors, flavor and fragrance manufacturers, and private-label bottlers. The Company operates three facilities across New Jersey and Indiana, employs approximately 130 people, and offers more than 3,000 SKUs of custom-ground herbs and spices. Kalustyan's sourcing, processing, and quality assurance capabilities deliver fully traceable, specification-driven ingredients supported by Certificates of Analysis and robust food safety programs aligned with FSMA and GFSI standards.

About Awani Capital Management, LP: Headquartered in the D.C. area, Awani is a private equity firm focused on control investments in leading North American middle-market companies providing essential business and industrial services. Awani partners with management teams to accelerate growth, enhance operations, and build enduring businesses through a disciplined, collaborative approach grounded in operational excellence and long-term value creation. For more information, please visit awanicapital.com.

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SOURCE Awani Capital