Parker Products acquires Creative Food Ingredients

  • 26 August 2020
The portfolio company of The Riverside has acquired the baked ingredients manufacturer for an undisclosed sum 
Aerial shot of cookies on baking tray
Photo as seen on Creative Food Ingredients’ website

Parker Products of Texas has acquired cookie ingredients manufacturer Creative Food Ingredients (CFI). The transaction was completed on 25 August for an undisclosed sum.

Parker produces ingredients for food and drink formulations. The company supplies companies in the baking, dairy, drink, confectionery, ready-to-eat snack, and foodservice sectors.

“Parker Products has been intriguing consumers with exciting new flavours, textures, and product characteristics for nearly a century,” said Greg Hodder, president of Parker. “The addition of CFI’s​ complementary line of baked inclusions and toppings, including the unique Cookie Gems and other rotary cookie bits, positions us as the ‘go-to’ source of premium ingredients for our customers.”

Parker Products has been a portfolio company of The Riverside since 2017. The global private equity firm acquired the company to accelerate Parker’s growth and set the stage for expansion opportunities such as that offered by the addition of CFI.

“CFI represents an excellent fit with Parker,” said Hodder. “The combination of Parker’s excellence in batch processing and artisanal ingredients is a perfect fit with CFI’s expertise in higher-volume orders and enables us to address a broader range of customer needs than ever before.”

Hodder noted that the two companies serve many of the same customers with highly complementary product lines, providing an opportunity for customers to source a wider range of high-quality inclusions and ingredients from a single supplier.

CFI’s chief executive, Michael O’Flaherty, will maintain an ongoing investment in the business but will transition away from day-to-day operations. 

Parker has tapped industry veteran Ron Savelli to act as president of CFI, working closely with CFI’s operations director Mike Humberstone, to lead manufacturing and related operations in Perry, New York.

O’Flaherty said: “CFI has continued to invest in growth since my family purchased the company in 2005. Joining Parker presents compelling opportunities not only for our customers but also for our employees as we look to the future, and that potential was too good to pass up. I’m excited about this next chapter for CFI as part of Parker Products.”

Parker and CFI will co-brand in the marketplace, honouring both companies’ strong brand equity and complementary product offerings.