Mergers & Acquisitions
Solina Acquires Canada's Lynch Foods
Photo by Tamanna Rumee on Unsplash
Solina, a designer of savory ingredient solutions, announced it has acquired W.T. Lynch Foods Limited in Canada to accelerate its expansion in the North American market.
Lynch Foods is an Ontario-based manufacturer of customized savory and sweet culinary solutions for foodservice and industrial markets, reportedly generating $95 million CAD (€65 million ) in annual sales. The company provides table portion and kitchen bulk sizes of sauces, syrups and dessert toppings, plus soup and gravy bases to its foodservice, QSR, and industrial customers.
By acquiring these Lynch Foods, Solina continues its North American expansion that began with its purchase of Canadian foodservice provider Produits Alimentaires Berthelet in 2020. Lynch Foods' leadership team and the company's 178 employees will join Solina, bringing Solina's headcount in Canada to more than 315.
"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," Anthony Francheterre, CEO of Solina, says. "This is a positive and exciting move for both companies, our customers, and our people."
In addition to Berthelet, Solina has bought Asenzya, a provider of custom, dry savory solutions, and Saratoga Food Specialties, a maker of custom seasoning and sauce flavor solutions for foodservice chains and food manufacturers. Solina now has four sites in the U.S. and three in Canada that complement its portfolio of culinary dry and liquid ingredient solutions in Europe.
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