Graham Partners Adds Flavor With Its Latest Add-On Acquisition
July 20th, 2020
Graham Partners, a private investment firm targeting technology-driven advanced manufacturing companies, is pleased to announce that its portfolio company, Giraffe Foods (“Giraffe”), a custom developer and manufacturer of sauces, marinades, dips and dressings, has acquired Lounsbury Foods (“Lounsbury”). The combined business offers a broad suite of value-add sauce and dressing solutions focused on product innovation, quality, and customization.
Lounsbury is a Canadian, family-owned manufacturer of horseradish and seafood cocktail sauce products and condiments with over 50 years of experience in the food industry. The addition of Lounsbury further broadens Giraffe’s core product offering, expands the company’s manufacturing capabilities to include fresh root processing, and creates cross-selling opportunities across the combined customer base. The acquisition is also expected to present significant operational and procurement-related synergies as Lounsbury joins Giraffe. A.J. Rossi, Vice President at Graham Partners, had this to say, “Giraffe has performed well during the COVID-19 pandemic and we are excited to be able to complete the strategic addition of Lounsbury to continue to build the Giraffe platform.” Ari Powell, Giraffe CEO, stated, “I’m looking forward to partnering with the Lounsbury team to deliver Giraffe’s strong R&D capabilities and focus on custom offerings to the markets Lounsbury has traditionally served.” Steven Graham, CEO of Graham Partners, adds, “With this add-on acquisition we are able to broaden and diversify Giraffe, which is increasingly important in today’s economic environment. This acquisition furthers our goal of building the company into a top tier specialty food developer and manufacturer.”
Giraffe, based in Toronto, Canada, is a custom developer and manufacturer of sauces, marinades, dips and dressings. Giraffe is benefiting from multiple conversion-driven growth catalysts, including increased demand for private label, ethnic, organic, and better-for-you foods, all of which are fueling brand, flavor, and product proliferation. Giraffe is well positioned to capitalize on growth within the food service and industrial segments due to the company’s exceptional in-house R&D team and state-of-the-art manufacturing capabilities.
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