Varagon Capital Partners served as administrative agent and lead arranger on a senior secured credit facility to support Graham Partners’ investment in Giraffe Foods.
Headquartered in Toronto, Canada, Giraffe manufactures custom sauces, marinades, dips and dressings for industrial food processor, retail and foodservice customers throughout the U.S. and Canada.
There are currently multiple conversion-driven growth catalysts in the food industry, including increased demand for private label, global flavors, organic and better-for-you foods, all of which are fueling brand, flavor, and product proliferation. As a result, Giraffe is well positioned to capitalize on growth within the foodservice, retail and industrial segments due to the company’s in-house culinary R&D team and state-of-the-art manufacturing capabilities.
“We are excited to partner with Graham Partners along the Giraffe management team to support their growth initiatives,” said Charlie Riceman, partner at Varagon.
Founded in 1988 by Steven Graham and based in suburban Philadelphia, Graham Partners is a private investment firm focused on investing in businesses with advanced industrial technologies, innovative product offerings and strong growth potential. It targets companies with EBITDA between $5 million and $50 million but will invest in smaller companies should they complement one or more of its other holdings.
Varagon is a lender to middle market companies and private equity firms. It invests across the capital structure and provides investors with exposure to high-quality, directly-originated middle market loans through products designed for sophisticated institutions.
