Solina has signed an agreement to acquire Saratoga Food Specialties, continuing its expansion in North America. The transaction is expected to close at the end of October 2022.
With operations in California, Illinois and Nevada and annual sales of US$280 million, Saratoga supplies restaurants and food manufacturers with custom dry seasoning blends and liquid solutions such as sauces, dressing and glazing. The company’s leadership team and its 500 employees will join Solina.
Acquiring the company accelerates Solina’s expansion into North America, by adding liquid solutions to its dry seasoning capabilities, doubling the number of facilities in the region and providing it with expertise in B2B, food service and retail.
“With Saratoga joining Solina, we will create a leading one-stop-shop for ingredient solutions in North America,” explained Anthony Francheterre, CEO 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 acquisition is the third step in the North America expansion strategy that began in 2020, following on from the acquisition of Canadian food service provider Porduits Alimentaires Berthelet. In 2021 Solina established its presence in the US by acquiring Asenzya, a provider of custom, dry savoury solutions.
Once the agreement is complete, Solina will have four sites in the US and two in Canada that cover dry and liquid solutions capabilities.
“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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