Kaho Partners has formed Global Flavors Group, a platform to acquire and scale a collection of food manufacturers focused on international cuisine.
Global Flavors Group's mission is to bring authentic global flavors to American plates. Kaho is attracted to this industry due to its positive growth tailwinds – driven by the increasing diversity of the U.S. population and growing interest in authentic international flavors – and fragmentation.
Kaho has recent, relevant experience in the food manufacturing industry. Kaho acquired Kenny's Great Pies, manufacturer of clean label cream-based pies and pie fillings, from its founder in 2020. Kaho led major investments in capacity and automation, implemented rigorous data tracking, instilled a culture of excellence and continuous improvement, and significantly expanded the sales organization. During Kaho's hold, Kenny's tripled revenue and quadrupled EBITDA. Kaho sold Kenny's to Dessert Holdings, a portfolio company of Bain Capital, earlier this year.
"We are thrilled to launch Global Flavors Group after spending more than a year developing our thesis around U.S.-based food manufacturers that deliver authentic international flavors to American consumers,” says Griffin Horter, founder of Global Flavors Group and managing partner of Kaho. “We have assembled a fantastic team of industry executives who will help us identify opportunities and drive value creation during our hold. We believe that the combination of our industry experience, leadership team and longer-term orientation will allow us to build a market leader in this growing industry.”
Global Flavors Group is looking to acquire food manufacturers with the following characteristics:
- Cuisine: Hispanic, Asian, Indian and Mediterranean
- Location: Headquartered in the U.S.
- Size: Less than $10 million of profit
