Symrise to acquire Giraffe FoodsSymrise to acquire Giraffe Foods
Symrise AG is acquiring Giraffe Foods Inc., a Canada-based producer of customized sauces, dips, dressings, syrups and beverage concentrates in the home meal replacement, foodservice and retail markets, from private investment firm Graham Partners and the founding Powell family.
December 8, 2021
The acquisition strengthens Symrise’s Flavor & Nutrition segment market position and capabilities in North America. Moving further down the value chain will facilitate access to and further develop new capabilities, including advanced food science and culinary expertise, proprietary recipes as well as new and sustainable packaging formats.
As part of the transaction expected to be complete by end of year, Symrise will acquire the existing two production facilities and one warehousing site and integrate the approximately 250 employees of Giraffe Foods. Terms of the deal were not disclosed.
“We consider this acquisition as a strategic opportunity to expand our portfolio into the highly attractive market for customized flavor and taste enhancement solutions,” said Jean-Yves Parisot, Ph.D., president, Flavor & Nutrition, Symrise AG. “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. 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.”
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