A proud heritage
Solina was founded over 30 years ago in Brittany by Eric Terré. Initially called Groupe Saveur, the company changed its name to Solina in 2012, following a merger between Groupe Savena and Sfinc Group, another food ingredients company.
In 2015, Ardian acquired Solina with the ambition of building a global leader in food solutions, specializing in customized culinary products that excel in taste, nutrition and functionality. This ambition went on to become a reality, as by the time of exit in 2021, Solina had become a renowned international partner for the food industry, serving more than 18,000 customers in over 75 countries – all while staying true to its DNA of serving customers locally.
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9
acquisitions realized in 5 years
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5
years investment period (2015-2020)
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11%
Sales Growth CAGR 2015-2020
A highly effective transformation strategy
Over the course of Ardian’s investment period in Solina, we supported the firm through significant periods of transition. Most notably, this included working with the company’s founder through a seamless management transition, helping to identify the ideal candidate to step into the role of CEO.
Thereafter, with a renewed management team, we implemented a series of initiatives to improve the strategic positioning of Solina. At the heart of the strategy was an ambitious growth initiative, both geographically and across customer segments. Solina extended its footprint beyond its traditional strongholds in France and Europe, growing its presence from 7 to 13 countries, including a landmark entry into North America through the acquisition of Berthelet.
Solina was also able to diversify its customer base and target new markets, breaking into Tier-1 clients and expanding into Food Service, with a particular focus on Quick Service Restaurants.
Creating growth through innovation and sustainable development
Alongside its expansion, Solina reimagined its approach to serving customers. By anticipating market shifts and emerging trends, the company introduced innovative solutions tailored to the growing demand for alternative proteins, clean-label products, and novel formats. This agility not only deepened its value proposition but also positioned Solina as a forward-thinking partner in an evolving food landscape.
All of this was underpinned by a firm commitment to sustainability. Solina launched a comprehensive roadmap centred on enhancing product quality, governance, and supply chain practices. A dedicated Sustainability Committee and the appointment of a Head of Sustainability and Procurement ensured that these efforts were deeply embedded in the company’s operations and culture.
Together, these foundations of expansion, innovation, and sustainability have reshaped Solina, enabling it to thrive in a rapidly changing global market while staying true to its values.
“Solina’s success is the result of a team effort that has allowed us to offer innovative solutions to our clients that have placed their trust in us for many years. We would like to thank Ardian for their support over the past five years.”
Solina recorded strong growth during Ardian’s ownership
Over the five years of Ardian’s investment, Solina experienced remarkable growth, transforming into a larger and more dynamic business. Annual sales surged from approximately €300 million to €550 million, while its workforce more than doubled, expanding from 1,000 to 2,250 employees.
A cornerstone of this success was Solina’s active M&A strategy, with nine acquisitions completed during the period. These acquisitions enabled the company to enter new geographies, including the UK, Canada, South Africa and Spain, while strengthening its product offerings and customer base. This expansion strategy not only enhanced Solina’s market reach but also tripled its organic growth rate from approximately 3–4% annually to an 11% sales CAGR.
Operationally, Solina achieved significant milestones. The company expanded its industrial footprint from 10 to 27 sites, supporting its growing scale. EBITDA doubled, driven by strategic pricing, SKU rationalization and a push for high-margin innovations. Synergies extracted from acquisitions and scale efficiencies further amplified profitability.
Strong performance in key segments also contributed to Solina’s growth. Nutrition, Butcher and Foodservice segments excelled, with Foodservice revenues increasing from 5% of total revenues in 2015 to 14% in 2020.
This sustained growth underscores Solina’s ability to combine strategic acquisitions, operational excellence and market responsiveness to achieve transformative results.
We are proud to have contributed to the growth of this European champion, especially by supporting its smooth transition with its founder and by assisting with its initial steps into the North American market. Thanks to the hard work and dedication of the management team and employees of Solina, the company has transformed into a global leading sustainable and responsible player focused on the development of innovative and more nutritional food solutions.
Deal Team
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Ardian
