Business strategy: Smithfield Foods sells sea...
Business strategy

Smithfield Foods sells seasoning business

Imago / Xinhua
Headquartered in France, Solina counts more than 2700 employees, production facilities in 19 countries and serves clients in more than 75 countries. Solina’s majority shareholder is Astorg, an independent private equity firm.
Headquartered in France, Solina counts more than 2700 employees, production facilities in 19 countries and serves clients in more than 75 countries. Solina’s majority shareholder is Astorg, an independent private equity firm.

FRANCE, Bréal-sous-Montfort. French ingredient solutions supplier Solina announced inking an agreement to acquire Smithfield Food’s seasoning business Saratoga for US$587,5M.

According to a press release by Solina, the acquisition is the company’s third step in its North America expansion strategy. The regulatory approval process is underway and the transaction is expected to close at the end of October 2022.


According to a filing by WH Group, the Chinese parent company of Smithfield Foods, the parties agreed to a purchasing price of US$587,5M.

With operations in California, Illinois, and Nevada, and annual sales of US$280M, Saratoga supplies Quick Service Restaurants and food manufacturers with custom dry seasoning blends and liquid solutions such as sauces, dressings, and glazes. Upon closing, the Saratoga leadership team and its 500 employees will join Solina, the company announced.

“With Saratoga joining Solina, we will create a leading one-stop-shop for ingredient solutions in North America,” Anthony Francheterre, CEO of Solina, said. “We look forward to leveraging the opportunities and value this acquisition will bring to our people and our collective food industry customers across the globe.”

The company’s expansion strategy began in 2020 with the acquisition of Canadian food service leader Produits Alimentaires Berthelet. Solina established a presence in the U.S. for the first time in 2021 with the acquisition of Asenzya, a Wisconsin-based provider of custom, dry savoury solutions.

2020 with the acquisition of Canadian food service leader Produits Alimentaires Berthelet. Solina established a presence in the U.S. for the first time in 2021 with the acquisition of Asenzya, a Wisconsin-based provider of custom, dry savoury solutions, Solina stated.

“I’m excited to work with the Solina team in the future to continue our commitment to driving innovation for our customers as well as new opportunities for our talented people,” said Michael Marks, President of Saratoga.

Source: Solina

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