Graham Savors the Flavor

Graham Partners, a Philadelphia-based private investment firm targeting technology-driven advanced manufacturing companies, is pleased to announce the sale of its portfolio company, Giraffe Foods LLC (“Giraffe Foods”). Headquartered in Mississauga, Ontario, Canada, Giraffe Foods is a custom developer and manufacturer of sauces, marinades, dips and dressings. Giraffe has differentiated itself as a custom, innovative flavor business through its in-house culinary R&D team, flexible manufacturing capabilities, and experienced management team.

Giraffe Foods was acquired in 2018 through Graham Partners’ Investment Theme Program after being identified as an attractive target through a study on custom culinary flavors. Graham’s investment thesis for Giraffe Foods was premised on multiple conversion-driven growth catalysts, including increased demand for private label foods, global flavors, organic, and better-for-you foods, all of which are fueling brand, flavor, and product proliferation. Graham also anticipated leveraging its experience in food technology to accelerate the trajectory of this culinary platform.

Graham actively partnered with the Giraffe Foods team during the ownership period to catalyze the company’s growth as an innovation-focused flavor business of scale.   During Graham’s ownership, Giraffe Foods:

• Completed a strategic add-on acquisition that broadened Giraffe Foods’ core product offering, expanded its manufacturing capabilities, and created cross-selling opportunities across the combined customer base
• Secured new business through culinary R&D partnerships resulting in a diversified base of blue-chip customers and a strong sales pipeline with multiple avenues for continued growth
• Enhanced and expanded operations by investing in automation and implementing cost savings initiatives

Giraffe Foods EBITDA grew 129% during Graham Partners’ holding period, further adding to Graham’s history of successful partnerships in the consumer and food technology industries.

Andrew Snyder, Managing Principal at Graham Partners, said, “With Giraffe Foods we saw the opportunity to combine an established, innovation-focused family-owned business with our experience and resources in the food technology space. We enjoyed collaborating with Giraffe’s management team and former owners to achieve our shared vision for this business.” Ari Powell, Chief Executive Officer and former family owner-operator of Giraffe Foods, added, “Graham was a value-added partner for Giraffe Foods, playing an integral role in accelerating our growth trajectory – their operational, commercial, and industry expertise enhanced our business, positioning us as a strategic asset for future lasting growth and profitability.”

About Graham Partners’ Consumer & Food Technology Focus

One of Graham Partners’ focus areas includes investing and partnering with technology and conversion-driven businesses in the consumer / food technology sector that are actively adapting to the evolving needs of their customers through innovation. Graham Partners has a specific interest in companies benefiting from the trends toward brand, flavor, and product proliferation, better-for-you foods, and packaging and food automation technologies.

FOR FURTHER INFORMATION CONTACT:

Andrew Snyder (asnyder@grahampartners.net)
Tel:  (610) 408-0500