diff --git a/lib/bundler/runtime.rb b/lib/bundler/runtime.rb
index d4a7837072c..a0abb7508a3 100644
--- a/lib/bundler/runtime.rb
+++ b/lib/bundler/runtime.rb
@@ -127,16 +127,16 @@ def cache(custom_path = nil)
 
       Bundler.ui.info "Updating files in #{Bundler.settings.app_cache_path}"
 
-      # Do not try to cache specification for the gem described by the .gemspec
-      root_gem_name = nil
+      # Do not try to cache specification for the gem described any of the gemspecs
+      root_gem_names = nil
       if gemspec_cache_hash = Bundler.instance_variable_get(:@gemspec_cache)
-        gemspec = gemspec_cache_hash.values.first
-        root_gem_name = gemspec.name unless gemspec.nil?
+        gemspecs = gemspec_cache_hash.values
+        root_gem_names = gemspecs.map(&:name)
       end
 
       specs.each do |spec|
         next if spec.name == "bundler"
-        next if !Dir.glob("*.gemspec").empty? && spec.source.class == Bundler::Source::Path && root_gem_name && spec.name == root_gem_name
+        next if !Dir.glob("*.gemspec").empty? && spec.source.class == Bundler::Source::Path && root_gem_names.include?(spec.name)
         spec.source.send(:fetch_gem, spec) if Bundler.settings[:cache_all_platforms] && spec.source.respond_to?(:fetch_gem, true)
         spec.source.cache(spec, custom_path) if spec.source.respond_to?(:cache)
       end
diff --git a/spec/commands/package_spec.rb b/spec/commands/package_spec.rb
index 8cf6de4c8c5..3e4b602963f 100644
--- a/spec/commands/package_spec.rb
+++ b/spec/commands/package_spec.rb
@@ -95,6 +95,51 @@
         end
       end
     end
+
+    context "with multiple gemspecs" do
+      before do
+        File.open(bundled_app("mygem.gemspec"), "w") do |f|
+          f.write <<-G
+            Gem::Specification.new do |s|
+              s.name = "mygem"
+              s.version = "0.1.1"
+              s.summary = ""
+              s.authors = ["gem author"]
+              s.add_development_dependency "nokogiri", "=1.4.2"
+            end
+          G
+        end
+        File.open(bundled_app("mygem_client.gemspec"), "w") do |f|
+          f.write <<-G
+            Gem::Specification.new do |s|
+              s.name = "mygem_test"
+              s.version = "0.1.1"
+              s.summary = ""
+              s.authors = ["gem author"]
+              s.add_development_dependency "weakling", "=0.0.3"
+            end
+          G
+        end
+      end
+
+      it "caches all dependencies except bundler and the gemspec specified gems" do
+        gemfile <<-D
+          source "file://#{gem_repo1}"
+          gem 'rack'
+          gemspec :name => 'mygem'
+          gemspec :name => 'mygem_client'
+        D
+
+        bundle! "package --all"
+
+        expect(bundled_app("vendor/cache/rack-1.0.0.gem")).to exist
+        expect(bundled_app("vendor/cache/nokogiri-1.4.2.gem")).to exist
+        expect(bundled_app("vendor/cache/weakling-0.0.3.gem")).to exist
+        expect(bundled_app("vendor/cache/mygem-0.1.1.gem")).to_not exist
+        expect(bundled_app("vendor/cache/mygem_test-0.1.1.gem")).to_not exist
+        expect(bundled_app("vendor/cache/bundler-0.9.gem")).to_not exist
+      end
+    end
   end
 
   context "with --path" do