Paulig Group - Corporate Flavoring Division acquired by Solina Group

FINLAND Food Processing / Ingredients REV €50–100M

Context

Solina Group continues its aggressive external growth strategy by acquiring the "Industrial Flavoring" division of the Finnish Paulig Group. This transaction includes the subsidiaries Lihel Oy (Finland), Nordfalks AS (Estonia), and Nordfalks Industrie AB (Sweden). The acquisition adds approximately EUR54 million in revenue to Solina, pushing its projected turnover to EUR320 million for 2015. Strategically, this deal completes Solina's coverage of Northern Europe (following the 2014 acquisition of SFK Food in Denmark) and opens new markets in Finland, Norway, Sweden, Russia, and the Baltics. The transaction was financed using existing acquisition credit lines secured during Solina's 2014 refinancing.

Paulig Group - Corporate Flavoring Division, which reported an EBITDA margin of [members only] in 2014, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the AgriFood sector (11.5x in 2026).

-> Deep-dive in AgriFood market trends

Target

The Corporate Flavoring Division of the Finnish food conglomerate Paulig Group consists of three main entities: Lihel Oy (Finland), Nordfalks AS (Estonia), and Nordfalks Industrie AB (Sweden). Together, they form the leading producer of savory ingredients and spice blends for the food industry in Northern Europe. The division specializes in functional marinades and seasonings for the meat processing industry, serving clients across Scandinavia, the Baltics, and Russia.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2014

2013

Other operations with Solina Group

Other operations with Solina Group
Date	Acquirer	Target	Country	Sector
05/2021	ASTORG	SOLINA GROUP	FRANCE	Ingredients
10/2015	ARDIAN	SOLINA GROUP	FRANCE	Ingredients
02/2014	SOLINA GROUP	SFK FOOD	DENMARK	Ingredients
07/2011	IK PARTNERS	SOLINA GROUP	FRANCE	Ingredients

Similar deals in Food Processing

Similar deals in Food Processing
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06/2015	TA ASSOCIATES	HANA GROUP	FRANCE	Food Products
06/2015	IK PARTNERS	CERELIA	FRANCE	Bakery / Pastry
05/2015	HORMEL FOODS	APPLEGATE	UNITED STATES	Meat & Cured Meat
04/2015	PAMPLONA CAPITAL MANAGEMENT	PARTNER IN PET FOOD (PPF)	HUNGARY	Petfood
03/2015	THE J.M. SMUCKER COMPANY	BIG HEART PET BRANDS	UNITED STATES	Petfood
02/2015	A.G. BARR	FUNKIN	UNITED KINGDOM	Soft Drinks
02/2015	SAGARD	DELICE DES 7 VALLEES	FRANCE	Bakery / Pastry
12/2014	OLAM INTERNATIONAL	MCCLESKEY MILLS	UNITED STATES	Ingredients
11/2014	YILDIZ HOLDING	UNITED BISCUITS (UB)	UNITED KINGDOM	Food Products
08/2014	HORMEL FOODS	CYTOSPORT	UNITED STATES	Food Products

REFERENCES

Revenue range: REV €50–100M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Paulig Group - Corporate Flavoring Division by Solina Group are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers Solina Group’s acquisition of 100% of Paulig Group - Corporate Flavoring Division, a Finnish company specialised in Ingredients, in 2015.

What was Paulig Group - Corporate Flavoring Division’s revenue at the time of the deal?

At the time of the transaction, Paulig Group - Corporate Flavoring Division’s annual revenue was estimated within the €50–100M range (FY 2014). Detailed financial figures are available to members.

How does the valuation of Paulig Group - Corporate Flavoring Division compare to benchmarks in the AgriFood sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. By way of comparison, in 2026 companies in the AgriFood sector are valued at a multiple of 11.5x EBITDA.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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