Commission clears Solina acquisition

By Niamh Michail

- Last updated on GMT

Commission clears Solina acquisition

Related tags Mergers and acquisitions Investment Meal

The European Commission has cleared the acquisition of French ingredient supplier Solina by private investment company Ardian.

After examining details of the acquisition under its simplified merger procedure, the Commission concluded that there was no cause for competition concern as the companies had very limited potential in vertical relationships for the supply of certain food ingredients, such as seasonings.

With 11 production facilities across Europe and a turnover of €305 million in 2014, Brittany-based Solina supplies ingredients for texture, stability and shelf life; nutrients such as protein powders along with supplements; and taste ingredients such as marinades, seasonings and batter coatings.

Eric Terré, CEO and founder of the company said it would benefit from the acquisition through new human and financial resources to focus on growth in emerging markets, strengthen its position in Europe and accelerate exports to Asia and the US.

Philippe Poletti, head of Ardian Mid Cap Buyout, said: "Working in partnership with them, we will draw upon our international network and expertise in the food ingredients sector to develop the company by pursuing an ambitious organic growth strategy as well as targeting acquisitions in this fragmented market.”

In April this year Solina acquired the industrial flavouring division of Finnish company Paulig, which produces blends, herbs, spices, marinades and functional ingredients for the meat, snack and ready meal industries, in a bid to increase its presence in Nordic countries and Russia.

Terré called the acquisition "a perfect strategic match"​ for Solina.

Ardian has assets of €47 bn ($50 bn) and previously invested in British food chain Eat and Luton airport.

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