Giraffe Foods, a Canada-based private-label manufacturer, has acquired Lounsbury Foods, a producer of horseradish and other table sauces located in Ontario, Toronto.
Family-owned Lounsbury also supplies the private-label sector, as well as the foodservice channels, with its portfolio consisting of sauces ranging from horseradish to tartar and seafood cocktail.
Giraffe Foods is also present in retail and the out-of-home segment for its own range of sauces, dips, marinades and dressings. Financial terms of the transaction were not disclosed in a statement from the Toronto-based company.
Ari Powell, the chief executive of Giraffe Foods, said: “The acquisition is consistent with our commitment to grow our capabilities and portfolio of product solutions by investing internally and by partnering with great companies like Lounsbury. This marks an important step for Giraffe as we continue on our journey from great to elite, with our outstanding team, our core mission, and our values leading the way.”
Last year, Giraffe Foods received an undisclosed capital injection from Philadelphia-based private-equity firm Graham Partners, described as a “significant investment”.
Tim Higgins, the president of Lounsbury, added his company will benefit from Giraffe Food’s “focus on innovation and quality”.