Graham’s Latest Investment Has the Secret Sauce
October 15th, 2024
PHILADELPHIA
Acquires Tulkoff, Family-Owned Sauce Manufacturer
Graham Partners (“Graham”), a private investment firm targeting advanced manufacturing companies, is pleased to announce the acquisition of Tulkoff Food Products (“Tulkoff”), a manufacturer of custom sauces, dips, and dressings. Headquartered in Baltimore, Maryland, Tulkoff was founded by the Tulkoff family in 1926. The company established itself as a leader in the horseradish and cocktail sauce categories and has since expanded into ethnic and other specialty sauces. Tulkoff primarily serves the foodservice and consumer-packaged goods (“CPG”) channels, partnering with several foodservice operators and CPG brands across North America to develop new and innovative products. Current CEO and third-generation owner-operator Phil Tulkoff will continue to lead Tulkoff’s management team post-acquisition.
As consumer interest in unique flavor profiles grows, sauces are playing an elevated role in kitchens and restaurants as a way of driving customer demand and traffic to their locations. Graham believes Tulkoff benefits from macro tailwinds such as a growing outsourcing trend in foodservice to simplify back-of-house processes, the proliferation of limited-time offerings among quick-service and fast-casual restaurants, and small-to-medium sized brands taking share from the larger players.
With over 100 years of experience in the sauce industry, Tulkoff differentiates itself on the basis of strong customer service and quality products, and Graham anticipates upholding that legacy during its ownership. Both of Tulkoff’s facilities focus on a flexible manufacturing approach allowing Tulkoff to service shorter-run and high-mix customers, providing the company with what Graham views as an advantage over larger sauce manufacturers. Graham believes there is an opportunity to further position the company as a culinary-forward, value-add innovation partner by investing in the technical sales and R&D resources necessary to expand Tulkoff’s ability to develop custom solutions to high-growth foodservice chains, emerging CPG brands, and industrial customers.
Graham Partners has prior experience partnering with family-owned and operated businesses, such as sauce manufacturer, Giraffe Foods, and believes it can leverage this experience with Tulkoff. Andrew Snyder, Managing Principal at Graham Partners, said, “We have followed Tulkoff over several years and seen their commercial success. What ultimately attracted Graham to the company was its flexible manufacturing capabilities and track record of innovation. We are excited to partner with Tulkoff and leverage our previous experience in the sauce manufacturing space to further accelerate the growth of the company.”
Headquartered in Baltimore, Maryland, Tulkoff is a family-owned formulator and manufacturer of sauces servicing customers across a wide variety of channels including CPG, foodservice distributors, foodservice chains, industrial, and retail. With over 100 years of experience in the sauce industry, Tulkoff’s mission is centered on providing customers with a personal experience through quality products.
FOR FURTHER INFORMATION CONTACT:
Andrew Snyder (asnyder@grahampartners.net)
Christina Morin (cmorin@grahampartners.net)
Tel: (610) 408-0500