SOLINA GROUP acquired by IK PARTNERS
Context
IK Investment Partners has agreed to acquire a majority stake in Savena from French private equity funds Cerea Capital and Azulis Capital. This transaction marks the beginning of a major consolidation phase for the company (which would later merge with SFK to become Solina). The management team reinvests in the transaction (having previously held 22.5%). The deal is driven by an ambitious growth strategy to double the company's size by 2016 through international external growth. Financing is provided to support acquisitions in Europe and emerging markets like Russia and China.
SOLINA GROUP, which reported an EBITDA margin of [members only] in 2010, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the AgriFood sector (11.0x).
-> Deep-dive in AgriFood market trends
Target
Headquartered in Brittany, France, Solina is a leading European producer of savory ingredients for the food industry. The group designs and manufactures customized ingredient solutions (seasonings, marinades, coatings, sauces) for clients ranging from local butchers and food service providers to major multinational food manufacturers (e.g., PepsiCo). At the time of the deal, Solina operated 25 production sites and R&D centers across Europe and Canada, employed 2,250 people, and served over 18,000 customers. The company is known for its "culinary" approach to Corporate ingredients.
Ent. Value
€100–350M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
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 |
| 05/2015 | SOLINA GROUP | PAULIG GROUP - Corporate FLAVORING DIVISION | FINLAND | Ingredients |
| 02/2014 | SOLINA GROUP | SFK FOOD | DENMARK | Ingredients |
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|---|---|---|---|---|
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|---|---|---|---|---|
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REFERENCES
Valuation range: EV €100–350M
Revenue range: €50–100M
EV/Revenue range: 1x - 3x
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: ik partners