February 4, 2020
Solina, a leading European producer of savoury ingredients for the food industry, announces the completion of the acquisition of Produits Alimentaires Berthelet from Berthelet Family the shareholders of the Company.
Headquartered in Laval, Québec, Berthelet has a leading position in the Canadian Foodservice market through kitchen-made quality products. Berthelet is a premium foodservice brand trusted and endorsed by chefs accross Canada.
The company was founded in 1960 by the Berthelet family. Leader in the industrial and foodservice applications in Quebec, Berthelet produces dry and liquid food solutions. The company rapidly expanded to the rest of the Canadian market as well as in the US through a dynamic retail approach. Berthelet generates revenues of approx. CAD$ 50M with 170 employees and 2 factories, one dedicated to dry solutions (Laval) and one specialized in the production of liquid solutions (Boisbriand). The management team has delivered a strong performance, particularly over the past 5 years.
For Solina, the acquisition represents the latest step in its growth strategy across the food service market after the acquisition of Essential Cuisine (UK) in 2018.
The two companies share the same entrepreneurial values. The approach to customers is agile, flexible, service- minded with the ultimate objective of delivering value-added solutions.
Guy Berthelet, Chairman of Berthelet Board states: “after 60 years of running a successful family business, we are proud to entrust future growth of Produits Alimentaires Berthelet to Solina Group, a leading European company that shares same mission, vision and values. We will become Solina North America base and will allow Solina to expand its activities in foodservice, industrial and retail markets this side of the ocean. As such, our management stays in place, we will still be running both our plants in Laval and Boisbriand so jobs will be preserved, all of which are of foremost importance to the family. I am personally excited to write that new page in our history and look forward to a bright future for the company founded by my grandfather more than 60 years ago”.
Eric Terré, Solina founder and Chairman says: “This acquisition is fully in line with our group’s growth strategy and a first building block for us in the Americas. I am encouraged by the strategic fit and cultural alignment, and we will pursue our external growth path across the Atlantic”.
The parties have agreed not to disclose the transaction value.
Canec originated and facilitated this transaction, acting as exclusive M&A advisor to Solina.