Solina expands in US via Saratoga buyout, diversifies presence in food manufacturing and QSR
Savoury ingredients supplier Solina Group has signed an agreement to acquire Saratoga Food Specialities for an undisclosed amount. The transaction is expected to close at the end of the month.
Saratoga specialises in supplying quick service restaurants (QSR) and food manufacturers with dry seasoning blends and liquid solutions, including sauces, dressings, and glazes. The company boasts annual sales of $280m (€285m).
The move will see Solina onboard Saratoga’s three facilities, located in California, Illinois, and Nevada, as well as its leadership team and 500 employees. The acquisition brings Solina’s facility count to six in North America, and 37 globally.
“With the takeover of Saratoga Food Specialties, we have a more representative, geographical footprint in North America when it comes to offering dry and liquid food solutions,” a company spokesperson told FoodNavigator.
Solina has also diversified its market presence, mainly in B2B food manufacturing and foodservice, we were told.
“For those reasons, we believe we are well-quipped to support organic, sustainable growth as well, driven by cross-fertilisation between our European and North American entities.”
Solina – headquartered in Brittany, France – is fast accelerating its presence in the US. This acquisition marks the third in the company’s North America expansion strategy, which started in 2020 with the acquisition of Canadian foodservice supplier Produits Alimentaires Berthelet.
The following year in 2021, Solina acquired dry savoury ingredients supplier Asenzya, headquartered in Wisconsin.
“With Saratoga joining Solina, we will create a leading one-stop-shop for ingredient solutions in North America,” said Solina CEO Anthony Francheterre.