Awani Capital Management Acquires Stake in Specialty Supplier Kalustyan

The investment provides Kalustyan with fresh capital and strategic oversight to expand its processing capacity and deepen its global sourcing networks. Despite the change in ownership, CEO Errol Karakash confirmed that the company’s day-to-day operations and internal management structure will remain intact. The firm intends to leverage these resources to enhance customer service protocols and operational efficiency across its three production facilities in New Jersey and Indiana.

For Awani Capital, the move aligns with its focus on scaling founder-led businesses within the industrial services sector. T. Otey Smith, a partner at the Washington, D.C.–based firm, cited Kalustyan’s extensive catalog of over 3,000 custom-ground herbs and spices as a primary driver for the acquisition. While the financial terms of the transaction were not disclosed, both parties emphasized a commitment to preserving the company’s existing entrepreneurial culture and rigorous food safety standards, which currently comply with FSMA and GFSI benchmarks. The partnership marks a transition for the 130-employee organization as it prepares for its next phase of market expansion.