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.
Acquiring Innova brings a new range of savoury solutions to customers who partner with Synergy on the creation and growth of their product portfolios, the company said.
Synergy was built through a series of acquisitions in the UK, the USA, Europe, South America and Asia, it added.
"This new acquisition brings new opportunities with customers and markets that will strengthen the returns across our whole business," commented 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," he said.
According to Carbery this acquisition is another significant business development in the last 12 months, with the company also seeing the opening of their expanded cheese facility towards the end of 2020, and a diversification into producing mozzarella for international markets.
Enhance US Business
Jason Hawkins, CEO of Carbery Group said acquiring Innova Flavors will enhance its 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," he said.
Innova supplies customised savoury flavours and ingredients to customers around the world. Their manufacturing facilities are based in the Chicago area, as is the HQ of Synergy US.
“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," said Rod Sowders, president and CEO of Synergy Flavors Americas.
“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 added.
New West Cork Facility
Last November, Carbery Group announced the completion of the expansion at its headquarters in Ballineen, West Cork, and the beginning of production of new cheese varieties (mozzarella and grilling cheese).
Supported by a €78 million investment in a new facility at its headquarters in Ballineen, Co Cork, the Dubliner Cheese owner said that the new range will be sold in existing and new markets with a particular focus on growing markets in Asia.