Flavour manufacturer Symrise has signed an agreement to acquire Giraffe Foods from private investment firm Graham Partners and the founding Powell family.
Based in Ontario, Canada, Giraffe Foods is a manufacturer of custom sauces, dips, dressings, syrups and beverage concentrates for North American B2B customers in the foodservice, home meal replacement and food retail sectors.
The acquisition will enable Symrise to provide a variety of taste solutions to a wider North American base, accelerating growth within its Flavor & Nutrition division. As part of the deal, Symrise will acquire the company’s two existing facilities and one warehousing site, integrating 250 Giraffe Foods employees.
Symrise’s president Flavor & Nutrition, Jean-Yves Parisot, said: “We consider this acquisition as a strategic opportunity to expand our portfolio into the highly attractive market for customised flavour and taste enhancement solutions. By combining Symrise’s Flavor & Nutrition expertise with Giraffe Food’s custom formulation capabilities, we aim to become a leader in integrated taste solutions in North America to always better serve our customers.”
He added: “The acquisition of Giraffe Foods supports our well established Symrise businesses in the region and will enlarge our value proposition in Taste, Nutrition and Health”.
The transaction is expected to close before the end of 2021. Terms of the deal were not disclosed.
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