Italy: Solana acquires Suncan

From food service to private label products
The acquired company, from Castelvetro Piacentino (PC), was founded in 1963 by the Politi family who, until now, had controlled it entirely, together with the CEO, Antonio Casana.

 Suncan's production is mainly aimed at catering, bakery and industrial use, both with its own brand products (Suncan and Chris) and with the customer/distributor's brand. It produces and markets fruit preserves (in syrup, natural juice, water), but also semi-preserves of basil, semi-finished products (of fruit and other vegetables, such as tomatoes), both conventional and organic. The turnover is approximately 7.5 million euros, of which over 70% is achieved abroad, especially in EU countries.

The Castelvetro plant covers an area of 20 thousand square meters, of which 7 thousand are covered (3 thousand of production area and 4 thousand of warehouse). In recent years the ‘factory’ has expanded and the premises used for processing have been completely renovated, thanks to investments in plant and structural types, which have allowed alignment with the most rigorous international standards.
The company, in fact, boasts four certifications: ISO 9001 (quality management), BRC (Brand reputation compliance), Certification for organic vegetable preserves and Social accountability.

Xenon bets on consumer goods
The operation took place under the aegis of Xenon private equity, a pan-European investor who completed, in May, the acquisition of 100% of Solana, with the aim of increasing the subsidiary with new acquisitions.

Incidentally, Xenon, authorized by the Luxembourg Financial Sector Supervisory Commission, has completed over 180 operations in more than 30 years since its foundation, including direct investments and add-ons, focusing on capital goods (10%), industrial components (46%), B2B services (40%) and consumer goods (4%).

Solana, founded in 2001, is aimed at business to business. It has a processing capacity of over 200,000 tons of fresh tomatoes per year, which become pulps, purees, concentrates, pizza sauces, organic foods, etc. 6,000 tons of pumpkin are added (which is transformed into puree, concentrate, organic line).

The Lombardy company, which operates in more than 30 countries, boasts 220 agricultural supplier companies, while the Lodi plant occupies an area of 135,000 square meters (27,000 covered), with 9 production lines.

In 2023, Solana closed its balance sheet with a turnover of 64 million euros and a profit of over 14 million euros. It is a joint stock company with a capital of 7.59 million euros.

The financial details of the deal were not disclosed.

Some complementary data
For further information about Solana, click here.
For further information about Suncan, click here.