FRANCE – France-based savoury ingredients supplier Solina Foods is bolstering its presence in the UK with the acquisition of food service supplier Zafron Foods.
Solina bought the second generation London company, which makes mayonnaise, sauces, dressings, chutneys and deli fillers, from the Kenny family for an undisclosed sum.
Zafron supplies its products to mid-sized foodservice chains. Its brands include Kenny’s, Zafron and Kromberg.
The company with reported annual net sales of GBP23m (US$28.9m) works out of two manufacturing sites and has 65 employees
Solina said the acquisition is part of its strategy to “develop its product capabilities and portfolio, across dry seasonings, coating systems and custom-sauces, and a one-stop-shop approach”.
It follows Solina’s acquisition of Sauces & Créations, a French sauce producer which was announced in April this year.
Solina’s expansion is timely as it is happening at a time when the global sauces and condiments market is experiencing healthy growth.
According to a new report by Grand View Research, Inc., the global sauces, dressings, and condiments market size is expected to reach US$181.0 billion by 2025, expanding at a CAGR of 4.8% over the forecast period.
Rising popularity of international cuisines among the youth adult customers is expected to remain a key factor boosting industry growth over the forecast period.
Moreover, increasing demand for healthy and nutritious on-the-go food products has propelled the demand for a wide variety of sauces, condiments, and dressings.
Anthony Francheterre, Solina’s CEO, said: “Quick service restaurants, dark kitchens and home meal replacement are driving growth in the sauce sector, particularly in the highly developed UK foodservice 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 un-met need while advancing our shared mission to make food matter for people and the planet.”
Following the acquisition, Jack Kenny will stay as a managing director of Zafron Foods with his management team after the deal.
“We see Solina as the ideal partner to enable the next chapter in our growth story,” Kenny said in a statement.
“We can create opportunities for Solina while benefiting from procurement synergies, cross-fertilisation with other liquid solutions sites and their expertise in custom culinary solutions.”
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