Carbery Group, a West Cork based ingredients and flavours producer, has announced its acquisition of Innova Flavors from Griffith Foods Worldwide.
The company will be an addition to Synergy, Carbery’s international flavours business. Acquiring Innova will bring a range of savoury solutions to customers who partner with Synergy for product development. This will expand Synergy’s service offering from the primarily sweet flavours and extracts it’s currently known for.
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.
“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.”
Jason Hawkins, CEO of Carbery Group, said: “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.”
“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 flavourings 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.”