The Riverside Company has formed FlavorSum as a holding company to consolidate its investments in National Flavors, Bonnie & Don Flavours, and GSB Flavor Creators.
Riverside acquired National Flavors in March 2020 and closed its first add-on with the buy of Georgia-based GSB in July 2020, and its second add-on with the buy of Canada-based Bonnie & Don Flavours in December 2020.
National Flavors is a developer and supplier of custom and stock flavors used in the beverages, frozen desserts, baked goods, confections, and processed fruits sectors. The company has specific flavor expertise in fruits (such as apple, blackberry and banana), citrus (lemon, lime, and orange), nut (almond, hazelnut, and peanut), mint (peppermint and spearmint), and sweet brown (butterscotch, chocolate, and vanilla).
National Flavors has more than 300 stock flavors, can develop custom flavors within a five-day time frame, and provides on-demand pricing and documentation with samples shipped within 24 hours.
“The value of the combined strengths of National Flavors, Bonnie & Don Flavours, and GSB Flavor Creators is far greater than the sum of the parts of our organization,” said Brian Briggs, CEO of FlavorSum. “FlavorSum is more than a new name. We’ve created a solutions-based business model that represents a significant step forward in our plan to grow organically, and through strategic M&A. With operations in the U.S. and Canada, innovative platforms, and teams relentlessly committed to customer success, we’re fueling our goal to be a disruptive force in the flavor industry.”
FlavorSum will maintain flavor research, creation, production, and distribution through two facilities in Kalamazoo, Michigan (formerly National Flavors) and Mississauga, Ontario (formerly Bonnie & Don Flavours).
New York City-headquartered The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 650 transactions and its portfolio includes more than 110 companies.
© 2021 Private Equity Professional | April 13, 2021