May 4, 2021
Willkie advised Ardian on the sale of Solina, the leading European manufacturer of ingredient and seasoning blends for the food industry, to Astorg.
On May 4, Willkie client Ardian announced it has started exclusive negotiations with Astorg to sell its stake in Solina, the leading European manufacturer of ingredient and seasoning blends for the food industry. Solina’s management will reinvest a significant part of their proceeds alongside Astorg.
Founded in 1988 and headquartered in France, Solina has approximately 2,250 employees located in 27 sites across Europe and Canada, serving more than 18,000 clients. The company conducts business in the resilient food solutions market and benefits from ongoing secular growth trends. These trends have been fueled by the recent shifts in global food consumption, which have led to a preference towards more premium and natural ingredients. Solina has market leading positions across the countries in which it operates, having built customer trust and loyalty through superior customer service and R&D capabilities. Solina focuses on sustainability by creating healthier food solutions and contributing to the development of meat-alternatives.
Ardian is a world-leading private investment house with assets of US$110 billion managed or advised in Europe, the Americas and Asia. The company, focused on entrepreneurship, is majority-owned by its employees.
The Willkie deal team was led by partner Eduardo Fernandez and included counsel Hugo Nocerino. Assistance was also provided by partners Paul Lombard and Faustine Viala and counsel Charles-Antoine Erignac.
