Solina group has entered into an agreement to acquire Supremia Grup
Solina, a leading European producer of savory ingredients for the food industry, announces that it has reached an agreement to complete the acquisition of Supremia Grup from Levente Hugo Bara, the founder and owner of the company. This agreement is subject to anti-trust authorities approval which is expected in the coming months. Headquartered in Alba Lulia, Romania, Supremia is the leader in Romanian food ingredients and spices market, and is active in Eastern and Western Europe, as well as Scandinavia. Since founding the company in 2000, Mr. Bara has built the group into an established player with more than 300 employees and sales of €52.1m in 2016. Following the acquisition, the current management team will stay in the Company.
For Solina, the acquisition represents the latest step in its external growth strategy in the European food industry.
Laurent Weber, CEO, Solina Group, said: “Supremia is a great company which has seen strong growth over the past 10 years. It is led by an entrepreneurial team which has built an impressive portfolio of solutions and seasoning offers together with a state-of-the-art factory in Alba Lulia. The company has also developed a strategic spices supply chain as well as a spice treatment operation. We are very positive about the team and we are eager to start working with our new Solina members.”
“This deal is a major step for us, particularly in Eastern Europe, and Supremia will become our regional center there. We are committed to expanding across Europe through a build-up strategy in all major markets, and this acquisition perfectly fits our network of service centers across the continent and beyond. Customers of both groups will benefit from what will be the largest R&D and production network in Europe.”
“We are committed to remaining a highly innovative, service and customer-orientated, as well as an agile company. Being a larger size means that we will be able to make our procurement process more efficient, as well as offering unique growth opportunities for our preferred suppliers.”
Levente Hugo Bara, Owner, Supremia Grup, said “Supremia is today an important player in the European food ingredients market showing very fast growth in the last 15 years based on an efficient management system and a strongly motivated team. I realize that maintaining such direction and growth alone as shareholder became more and more difficult and I decided a year ago to find the right partner for Supremia.”
“Solina is the best partner for us and for the future of our organization, with interesting potential synergies and the combined group will become stronger and a more attractive partner for our customers.”
The parties have agreed not to disclose the transaction value.