PARIS — Europe-based ingredient solution provider Solina is set to acquire Saratoga Food Specialties for for $587 million, according to a filing from Saratoga's parent company WH Group.
Solina’s acquisition of the custom dry seasoning and liquid solutions manufacturer is expected to close at the end of October.
“With Saratoga joining Solina, we will create a leading one-stop-shop for ingredient solutions in North America,” said Anthony Francheterre, chief executive officer of Solina. “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.”
The deal represents Solina’s third step in its plans for North American expansion, having already acquired Canada-based Produits Alimentaires Berthelet in 2020 and Asenzya, Wisconsin, in 2021.
Solina now will have four production sites in the United States and two in Canada that combine to equal the company’s total production capabilities in Europe.“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,” said Michael Marks, president of Saratoga. “This acquisition is good for our business, our customers, and our people.”