Solina, a leading European producer of savoury ingredients for the food industry, announces today the completion of the acquisition of Essential Cuisine Limited from Nigel Crane, Neil Corlett and Jamie McGregor, the shareholders of the company.
Headquartered in Winsford, U.K., Essential Cuisine has a leading position in the U.K. foodservice market through kitchen-made quality products such as stocks, jus and gravies. Essential Cuisine is a premium foodservice brand trusted and endorsed by chefs across the U.K.
Since founding the company in 1995, Nigel Crane and the shareholders have built an established player in the U.K. foodservice market with 70 employees generating sales of €15 million in 2018. The current management team will stay with the company to support the next growth phase with the existing shareholders remaining within Essential Cuisine until the end of July to ensure a smooth transition. As Solina U.K. Country Manager, Adam Jones will lead the integration program with the local team.
For Solina, the acquisition represents the latest step in its growth strategy across the European food market and its second acquisition in the U.K.
The parties have agreed not to disclose the transaction value.
Oghma Partners LLP acted as exclusive financial advisors to Solina on this acquisition as well as on the acquisition of New Ivory, a transaction which was completed in 2016. This latest transaction follows two and a half years of strategic advisory work undertaken by Oghma Partners on behalf of Solina to identify suitable target businesses to fit with their ongoing build-up strategy in the E.M.E.A. and North America.
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