Bringing culinary expertise in savoury to the US
Solina, a leading European producer of savoury ingredients solutions for the food industry, announces the completion of the acquisition of Asenzya® Inc.
Headquartered in Oak Creek, Wisconsin (United States), the company takes a culinary approach to the creation of custom, dry savoury solutions. Asenzya®, has invested in building world-class culinary, R&D and operations infrastructure to establish itself at the forefront of the industry in North America. Asenzya count 145 employees and have a turnover of USD 50M$.
For Solina, the acquisition continues a long-running strategy of expanding geographically through takeovers and establishes it in the US for the first time. Having built a leadership position in Europe, Solina entered North America in January 2020 through the takeover of Canadian foodservice leader Berthelet. Entering the US by acquiring a business with complementary capabilities and culture means another milestone for Solina’s growth trajectory.
Patty Goto, President of Asenzya®, commented: “We are pleased to join the Solina Group. Our shared vision of technology, innovation, and culinary trends will create the perfect blend for strategic growth within the United States. Solina offers Asenzya a broader reach across the globe and we are very excited to share future success.”
Anthony Francheterre, CEO of Solina, added: “The acquisition of Asenzya® is a landmark in the geographic expansion of Solina. With a presence in the US, we are now positioned to work closely with the North American food industry to deliver innovative solutions that enable our customers to meet ever-changing consumer demands.”
Eric Terré, Solina Founder and Chairman stated: “Asenzya® is an ideal fit for Solina. Both companies have roots in servicing the meat industry and have diversified in recent decades, with Asenzya® expanding to cover the protein, snack food, sauces, bakery and frozen foods industries. Working out of a state-of-the-art technical centre, Asenzya® has stayed at the forefront of innovation as it has expanded, while retaining the family values that have helped it forge strong ties with its customers and employees.”
The parties have agreed not to disclose the transaction value.
Canec originated and facilitated this transaction, acting as exclusive M&A advisor to Solina.