Sunday, February 5, 2023

Solina continues North American expansion with Saratoga Food Specialties acquisition

Ingredient solutions firm, Solina has signed an agreement to acquire Saratoga Food Specialties to continue its expansion in North America.

The regulatory approval process is underway and the transaction is expected to close at the end of October 2022.

With operations in California, Illinois, and Nevada, and annual sales of $280m, Saratoga supplies Quick Service Restaurants (QSR) and food manufacturers with custom dry seasoning blends and liquid solutions such as sauces, dressings, and glazes. Upon closing, the Saratoga leadership team and its 500 employees will join Solina.

Like Solina, Saratoga combines market and consumer insights with culinary expertise, R&D infrastructure, and advanced procurement capabilities to support and guide its customers with extensive value-added services.

Acquiring Saratoga accelerates Solina’s footprint into North America, notably by adding liquid solutions to its existing dry seasoning capabilities, doubling its number of facilities in the region, and providing the North American organization with significant expertise in B2B (industry), foodservice (QSR) and retail.

“With Saratoga joining Solina, we will create a leading one-stop-shop for ingredient solutions in North America,” Anthony Francheterre, CEO of Solina, said. “We look forward to leveraging the opportunities and value this acquisition will bring to our people and to our collective food industry customers across the globe.”

“I’m excited to work with the Solina team in the future to continue our commitment to driving innovation for our customers as well as new opportunities for our talented people,” said Michael Marks, president of Saratoga. “Solina has become a market leader in Europe by providing integrated solutions that address the diverse needs of each project, which complements the way we focus on our customers’ needs. This acquisition is good for our business, our customers, and our people.”

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