M&A Deal Summary

Symrise Acquires Giraffe Foods

On December 7, 2021, Symrise acquired food company Giraffe Foods from Graham Partners

Acquisition Highlights
  • This is Symrise’s 2nd transaction in the Food sector.
  • This is Symrise’s 1st transaction in Canada.
  • This is Symrise’s 1st transaction in Ontario.

M&A Deal Summary

Date 2021-12-07
Target Giraffe Foods
Sector Food
Buyer(s) Symrise
Sellers(s) Graham Partners
Deal Type Add-on Acquisition

Target

Giraffe Foods

Mississauga, Ontario, Canada
Giraffe Foods is a producer of customized sauces, dips, dressings, syrups and beverage concentrates for B2B customers, in the home meal replacement, food service and retail markets. Giraffe Foods was founded in 1997 and is based in Mississauga, Ontario.

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Buyer(S) 1

Buyer

Symrise

Holzminden, Germany

Category Company
Founded 1874
Sector Chemicals
Employees12,656
Revenue 4.7B EUR (2023)
DESCRIPTION

Symrise is a producer of flavours, fragrances, cosmetic ingredients and aroma chemicals in the world. Symrise was founded in 1874 and is based in Holzminden, Germany.


DEAL STATS #
Overall 9 of 14
Sector (Food) 2 of 5
Type (Add-on Acquisition) 7 of 10
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-17 Symrises Natural Food Coloring Business Unit

Holzminden, Germany

Symrises Natural Food Coloring Business Unit provides colors for the food industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-07 Schaffelaarbos

Barneveld, Netherlands

Schaffelaarbos produces circular proteins for Petfood, (Young-) Animal Feed and Aquaculture. By processing residual flows into high-quality protein sources and other ingredients, Schaffelaarbos contribute to a circular and positive food system. Schaffelaarbos is based in Barneveld, Netherlands.

Buy -

Seller(S) 1

SELLER

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $10 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.


DEAL STATS #
Overall 33 of 37
Sector (Food) 2 of 3
Type (Add-on Acquisition) 12 of 14
State (Ontario) 2 of 2
Country (Canada) 2 of 2
Year (2021) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 HB&G

Troy, Alabama, United States

HB&G is a designer and manufacturer of synthetic and wood specialty millwork, consisting primarily of exterior and interior columns, as well as exterior posts, railings, and ceilings for porch and deck applications. HB&G was founded in 1880 and is based in Troy, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 ACME

Allentown, Pennsylvania, United States

ACME is a manufacturer of vacuum insulated pipe used in the transmission of gasses that have been liquefied, repairs cryogenic storage tanks, and repairs and manufactures tank trailers used in transporting liquid nitrogen, oxygen, and helium, etc. ACME was established in 1969 and is based in Allentown, Pennsylvania.

Sell $295M