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UK: Solina acquires majority stake in Zafron Foods
According to the information released early June by FoodManufacture website, French ingredients firm Solina has expanded its reach into the UK with the acquisition of a majority stake in sauces and condiments manufacturer Zafron Foods from the Kenny family. The company reported net sales of £23m
Working from two BRC (British Retail Consortium) accredited manufacturing sites in London, Zafron Foods produces and supplies mayonnaise, sauces, condiments, dressings, chutneys and deli fillers to mid-sized foodservice chains. The company employees 65 members of staff and reported net sales of £23 million (Euro 26.7 million).
Solina said the acquisition was part of its strategy to develop product capabilities and portfolio across dry seasonings, coating Systems and custom sauces.
Solina said the acquisition was part of its strategy to develop product capabilities and portfolio across dry seasonings, coating Systems and custom sauces.
Driving the sauce sector
Anthony Francheterre, chief executive of Solina, said: "Quick service restaurants, dark kitchens and home meal replacement are driving growth in the sauce sector, particularly in the highly developed UK food service market, yet there remains a need for custom-sauce capacity and capabilities.
"Solina, with our culinary heritage, and Zafron Foods, with its complementary capabilities and channels, will address that unmet need while advancing our shared mission to make food matter/or people and the planet."
Jack Kenny, managing director of Zafron Foods, will remain with his management team after the deal. He described Solina as the 'ideal partner' to enable further growth of the business.
"With our access to Tier One customers in the UK – as well as combining our sauces capabilities with Essential Cuisine sales network — we can create opportunities for Solina while benefiting from procurement synergies, cross-fertilization with other liquid solutions sites and their expertise in custom culinary solutions," he added. "We share Solina's entrepreneurial values and look forward to our collaboration.”
The acquisition of a majority stake in Zafron Foods followed Solina's purchase of French producer Sauces & Creations in April 2022. Solina's expansion reflected the “high growth” of liquid solutions and sauces and the emergence of new channels for custom sauces, it claimed.
Some complementary data
For further information…
About Solina: https://www.solina.com/
About Zafron: https://www.zafronfoods.co.uk/
Sources: foodmanufacture.co.uk, solina.com, zafronfoods.co.uk
