Carbery Group, the west Cork-based international ingredients, flavours, and cheese producer, has announced the acquisition of savoury flavour and ingredient supplier, Innova Flavors, from Griffith Foods Worldwide.
The new company will be an addition to Synergy, Carbery’s international flavours business.
Known in the US for its sweet flavours, extracts and essences, Carbery Group has said that the strategic purchase expands the savoury capabilities of Synergy US and complements Synergy’s offerings worldwide.
“Our primary purpose is to add value for our farmer shareholders”, said TJ Sullivan, chairman of Carbery Group.
“Through a series of acquisitions in the UK, the USA, Europe, South America and Asia, we have successfully built Synergy, our international flavours business. This new acquisition brings new opportunities with customers and markets that will strengthen the returns across our whole business,” Sullivan added.
Expansion for Carbery Group
This acquisition is another significant business development in the last 12 months, with the company also seeing the opening of its expanded cheese facility towards the end of 2020, and a diversification into producing mozzarella for international markets.
Jason Hawkins, CEO of Carbery Group, commented: “Our business was resilient throughout Covid-19, Brexit and the challenges of the last few years.
“Stability is important for us, but we also need to consider strategic opportunities for us to grow, to strengthen our offerings for our customers and maximise what we can deliver for our shareholders.
“Acquiring Innova Flavors will enhance our business in the US, but also in Asia and Central and South America. The deal will bring opportunities right across our platforms of dairy, taste and nutrition.”
Innova supplies customised savoury flavours and ingredients to customers around the world. Its manufacturing facilities are based in the Chicago area, as is the HQ of Synergy US.
Rod Sowders, president and CEO of Synergy Flavors Americas added: “This acquisition offers significant benefits to Synergy customers by providing them access to a proven range of flavours to meet the growing demand for natural flavorings and savoury ingredients, and these products complement Synergy’s current offerings.
“In addition, our global footprint and history of investment in acquisitions will allow Innova customers to benefit from the deep flavour expertise and global reach of our organisation,” he concluded.