Graham Partners has sold Giraffe Foods to Symrise AG
Giraffe Foods Inc. is a leading player in the formulation and manufacturing of custom flavor solutions. With advanced research and development and culinary capabilities, Giraffe formulates and produces unique sauces, dips and dressings in a wide array of packaging options at its state-of-the-art facilities outside of Toronto, Canada. The company serves customers across the foodservice, home meal replacement and retail sectors in North America.
Graham Partners purchased Giraffe in December 2018 and helped drive continued growth and margin expansion by augmenting the management team, executing key operational initiatives and making an add-on acquisition. Graham engaged Lincoln to find a partner that could support Giraffe as it uses its unique business model to pursue an almost limitless amount of new business opportunities. Lincoln’s industry expertise and access to global strategic buyers allowed for a targeted process on an accelerated timeline. Giraffe has a culture of putting the customer first, and the acquisition will enable Giraffe to provide more complete flavor solutions to a broader set of customers and Symrise to accelerate growth in North America.
David Houser, a Managing Director specializing in food and beverage at Lincoln, commented, “Buyers’ interest in Giraffe was strong and reinforced by several key factors, including a great management team and a track record of revenue growth (10-year CAGR of over 25 percent). In addition to tremendous management, the company benefitted from very favorable trends as consumer tastes become increasingly global and sophisticated, and foodservice operators and manufacturers differentiate their products and drive consumer loyalty with customized flavors.”
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