From vibrant turmeric grown in India to bold black pepper sourced from Vietnam, spices are the backbone of global cuisine and a growing market valued at over USD 20 billion. Nedspice, a Dutch privately-owned leader in sourcing, processing, and distributing spices, herbs, and dehydrated vegetables, is taking its operations to the next level with a €9 million term loan from Invest International under the Dutch Good Growth Fund (DGGF). This financing will support Nedspice’s capital expenditure program to expand and upgrade production facilities in India and Vietnam, two of the world’s most important spice-producing countries.
Nedspice
Headquartered in the Netherlands, Nedspice sources, cleans, sterilizes, grinds, packages, and distributes single spices, herbs, and dehydrated vegetables to over 400 customers in 60 countries. Its portfolio includes staples such as turmeric, pepper, cumin, coriander, and chili, ingredients find their way into kitchens and food industries across Europe, Asia, Africa, and North America.
The company operates processing facilities in India and Vietnam, supported by sales offices and warehouses in the Netherlands, the USA, the UK, South Africa, and China. With approximately 900 employees worldwide, Nedspice reported in the financial year 2024 sales of USD 197 million and EBITDA of USD 21.2 million.
The team of Invest International and Nedspice during the signing of the transaction.
“By supporting these investments in India and Vietnam, we help strengthen local value chains, improve food safety standards, and contribute to multiple Sustainable Development Goals.”
Strong ESG commitment
Beyond business, Nedspice is recognized for its strong ESG commitments, notably through its Farmers Partnership Programme in Vietnam, involving 4,745 farmers cultivating 22,000 hectares of land and producing 8,100 metric tons of crops.
The €9 million financing will enable Nedspice to execute its Capital expenditures plan through 2025 -2027. These investments will strengthen Nedspice’s production capacity and improve efficiency in key growth markets.
Responsibly sourced spices
Koen Hamers, Head SME and Midcorps at Invest International:
“Nedspice is a strong example of a Dutch company creating global impact through sustainable practices. The financing complements local funding options, which have been less accessible for projects in these geographies, underscoring Invest International’s role in providing additionality. By supporting these investments in India and Vietnam, we help strengthen local value chains, improve food safety standards, and contribute to multiple Sustainable Development Goals.”
Alfons van Gulick, CEO of Nedspice:
“This financing enables us to invest in advanced and upgraded processing facilities, ensuring we meet growing global demand for high-quality, responsibly sourced spices. Our commitment to sustainability and farmer partnerships remains at the heart of our strategy.”
Adding: “We aspire to be a flavour ingredients company with profitable growth that contributes to environmental, social and economic development. We believe in growth, but not at the expense of our future. We believe that agriculture and nature should cooperate instead of compete. That is why we are at the forefront of an ongoing search to find the best possible and most sustainable solutions that benefit our farmers, communities, customers and our employees.”
Sustainable agri-food projects
Invest International’s decision to finance Nedspice aligns with its mandate to support sustainable projects in the agri-food sector in focus countries. The investment is expected to deliver high impact by contributing to SDGs 2 (Zero Hunger), 8 (Decent Work and Economic Growth), 12 (Responsible Consumption and Production), and 13 (Climate Action). The project qualifies for Invest International’s Green Label due to its sustainability initiatives.
