- Lynch Foods’ leadership team and its 178 employees to join Solina
- Astorg acquired Solina in 2021 from Ardian
- Astorg is a global private equity firm managing €19bn of assets
Solina, a portfolio company of Astorg Partners, has acquired WT Lynch Foods, a manufacturer of customised savoury and sweet culinary products for foodservice and industrial markets. No financial details of the transaction were disclosed.
Lynch Foods is based in Ontario, Canada. The firm recorded C$95 million ($69.75 million; €65 million) in annual sales.
Solina’s acquisition of Lynch Foods is part of its North American expansion, which began with its acquisition of Produits Alimentaires Berthelet in 2020, according to a release.
“In Lynch Foods, we have bought a company that has a similar and complementary business platform to Berthelet and the capacity and capabilities to drive our growth as a leading food solutions partner in the Canadian market,” said Anthony Francheterre, CEO of Solina.
Lynch Foods’ leadership team and its 178 employees will join Solina, bringing Solina’s total headcount in Canada to over 315, the release said.
Astorg acquired Solina in 2021 from Ardian.
Astorg, based in Luxembourg, is a global private equity firm with €19 billion of assets under management.
Solina is a global firm working with the food industry, foodservice, quick-service restaurants, and nutrition sectors, designing ingredient products. The firm is based in Bréal-Sous-Montfort, France.