Varagon backs Graham Partners’ investment in Giraffe Foods

Varagon Capital Partners provided a credit facility to back Graham Partners‘ investment in Giraffe Foods. No financial terms were disclosed. Toronto-based Giraffe is a maker of custom sauces, marinades, dips and dressings for industrial food processor, retail and foodservice customers throughout the U.S. and Canada.


New York, NY, December 17, 2018 – Varagon Capital Partners (Varagon) today announced it is serving as administrative agent and lead arranger on a senior secured credit facility to support the investment of Giraffe Foods Inc. (Giraffe) by Graham Partners.

Headquartered in Toronto, Canada, Giraffe is a manufacturer of custom sauces, marinades, dips, and dressings for industrial food processor, retail, and foodservice customers throughout the U.S. and Canada. Giraffe is benefiting from multiple conversion-driven growth catalysts, including increased demand for private label, global flavors, organic, and better-for-you foods, all of which are fueling brand, flavor, and product proliferation. Giraffe is well positioned to capitalize on growth within the foodservice, retail, and industrial segments due to the company’s experienced, innovation-focused 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.

About Graham Partners
Graham Partners is a private investment firm focused on investing in businesses with advanced industrial technologies, innovative product offerings, and strong growth potential. Graham Partners targets companies with EBITDA between $5 million and $50 million, and will invest in smaller companies to the extent they complement one or more of its other holdings. Since the firm’s founding in 1988 by Steven Graham, Graham Partners has closed over 110 acquisitions, joint ventures, financings, and divestitures. The committed capital raised since inception through the Graham Partners funds together with Graham led co-investments totals approximately $2.4 billion, which differs from Regulatory Assets Under Management. Investors include university endowments, charitable foundations, financial institutions, and private investors. Based in suburban Philadelphia, the firm has access to extensive operating resources and industrial expertise and is a member of The Graham Group, an alliance of independently owned and operated industrial and investment management businesses that share in the common legacy of entrepreneur Donald Graham.

For more information about Graham Partners, visit

About Varagon Capital Partners
Varagon is a leading lender to middle market companies and private equity firms. Varagon invests across the capital structure and delivers flexible financing solutions that meet the needs of our private equity partners. Varagon provides investors with exposure to high-quality, directly-originated middle market loans through products designed for sophisticated institutions. Since inception, Varagon has made over $9.0 billion of investment commitments to over 120 middle market companies.
For additional information about Varagon, please visit