Food ingredients firms SFINC and Jadico are to merge to create a combined business with annual sales of EUR70m (US$84.8m).

Private-equity firm AXA, which owns a majority stake in Sfinc, announced the deal earlier this week.

AXA Private Equity MD Arnaud Dufer said the move was part of Sfinc’s strategy to grow across Europe.

“The merger with Jadico is a significant achievement as it both doubles the size of the group and gives a major boost to this growth strategy,” Dufer said.

Sfinc manufactures and markets spices, marinades and functional food mixes. Jadico develops, produces and markets ranges of spices, herbs, sauces and mayonnaise. 

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