For Solina, the acquisition continues a long-running strategy of expanding geographically through takeovers and establishes it in the US for the first time. Having built a leadership position in Europe, Solina entered North America in January 2020 through the takeover of Canadian foodservice leader Berthelet. Entering the US by acquiring a business with complementary capabilities and culture means another milestone for Solina’s growth trajectory.
Patty Goto, President of Asenzya®, commented: “We are pleased to join the Solina Group. Our shared vision of technology, innovation, and culinary trends will create the perfect blend for strategic growth within the United States. Solina offers Asenzya a broader reach across the globe and we are very excited to share future success.”
Anthony Francheterre, CEO of Solina, added: “The acquisition of Asenzya® is a landmark in the geographic expansion of Solina. With a presence in the US, we are now positioned to work closely with the North American food industry to deliver innovative solutions that enable our customers to meet ever-changing consumer demands.”
Eric Terré, Solina Founder and Chairman stated: “Asenzya® is an ideal fit for Solina. Both companies have roots in servicing the meat industry and have diversified in recent decades, with Asenzya® expanding to cover the protein, snack food, sauces, bakery and frozen foods industries. Working out of a state-of-the-art technical centre, Asenzya® has stayed at the forefront of innovation as it has expanded, while retaining the family values that have helped it forge strong ties with its customers and employees.”The parties have agreed not to disclose the transaction value.
Astorg is a global private equity firm with over €13 billion of assets under management. We work with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body. Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg.
For more information about Astorg: www.astorg.com. Follow Astorg on LinkedIn.
Asenzya®, formerly Foran Spice Company, is a leading US provider of custom spice blends, seasoning solutions and functional products. With more than 145 employees, Asenzya® combines a large number of capabilities with agility to deliver products that are at the pinnacle of taste and quality. Asenzya®’s product portfolio consists in customized dry seasoning blends, functional ingredients and services that support and enable cutting-edge products for our customers.
Solina is a European leader in the savoury ingredients European market. With 28 production facilities, multiple R&D centres and local sales offices, Solina designs customized ingredient solutions for clients operating in the savoury food industry, foodservice and butchery markets. Solina‘s services rest upon a functional, a taste and visual and a nutritional expertise to create innovative food solutions. Press Release Paris 4th October 2021 Solina P.A. du Hindré III 35310 Bréal-Sous-Montfort +33 (0)2 99 60 07 60 solina.com Headquartered in France, the company has around 2200 employees, direct presence in 17 countries and serves customers in more than 75 countries. The majority shareholder of Solina Group is Astorg, the independent private investment company. For further information, please visit www.solina.com