Sfinc produces and distributes spices, marinades and functional food ingredient blends for food processing companies and it focuses on food ingredients such as natraceuticals, coatings and aromas and spices.
The Benelux-based company is the result of a merger in 2004 between two Belgium companies, Rejo and Pellicula. As a result of a buy-in transaction in 2004, GIMV and buy-in manager Chris de Wolf acquired a majority stake in the newly formed group. Since then, turnover has more than doubled from €15m to an estimated €35m in 2008.
CEO of Sfinc, Chris De Wolf said: “We are please to have found in AXA Private equity a first-class partner with a deep understanding of the food ingredient sector, strong track-record in build-ups and a well-rounded international network.”
The existing management team will remain in charge of the company and will pursue the company’s buy and build strategy.