Solina closes one other M&A deal to take ‘extra step in growth intention’
Solina has done the acquisition of Bowman Ingredients from the Bowman Family shareholders for an undisclosed amount.
By onboarding Bowman, Solina – which specialises in savoury substances for the meals industrial – will add coating gadget capabilities, stale for foodservice and retail meals processors, to its industrial. Bowman’s products include breadcrumbs, batters and marinades.
The deal moreover involves Bowman’s four sites within the UK, alongside side a dedicate gluten-free and allergen-managed manufacturing plant opened in 2016, moreover to a manufacturing facility opened in Wroclaw, Poland, earlier this twelve months.
Bowman is a partner in two successful joint ventures in South Africa and Thailand, and generates a earnings of £60m (€65m). The industrial for the time being employs 220 personnel proper by the UK and Poland.
The facts comes ethical four months after Solina done the acquisition of German-primarily primarily based Hagesüd, which produces spice blends for the meat processing industrial. On the time, Solina acknowledged the acquisition would allow it to broaden B2B exercise within the German market, whereas moreover helping it win its plant-primarily primarily based meat change platform, Nextera, for meals manufacturing, butcher, and foodservice sectors.
Therefore, for Solina, the Bowman acquisition represents a ‘extra step in its growth intention’. The industrial moreover bought Canadian foodservice operation Berthelet in January 2020.
“We are cheerful to turn into an component of the Solina Neighborhood who clearly fragment the identical values, ardour and innovative spirit as Bowman Ingredients,” acknowledged founder, shareholder, and CEO of Bowman Ingredients, Rory Bowman.
“Our administration crew will remain in residing, and I’m excited to be working with Solina to proceed to guide Bowman Ingredients at such an exhilarating share of our enhance. We glance forward to exposure to Solina’s new applied sciences and enhanced geographical reach.”
Solina CEO Anthony Francheterre acknowledged past being a ‘solid cultural match’, Bowman Ingredients is effectively established within the benefit meals and foodservice Snappy Carrier Restaurants (QSRs). This, he acknowledged, represents a ‘strategic pillar’ for Solina’s future enhance.
“Working in partnership, Solina and Bowman are complementary, each and every in terms of product portfolio and customer nefarious.”