View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
June 6, 2022

France’s Solina snaps up UK foodservice supplier Zafron Foods

It has bought the second generation London company from the Kenny family.

By Andy Coyne

Solina Foods, the France-based savoury ingredients supplier, has acquired UK-based condiments business Zafron Foods for an undisclosed sum.

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

It has bought the second generation London company, which makes mayonnaise, sauces, dressings, chutneys and deli fillers, from the Kenny family.

Zafron, which works out of two manufacturing sites, supplies its products to mid-sized foodservice chains. Its brands include Kenny’s, Zafron and Kromberg.

It has 65 employees and reported annual net sales of GBP23m (US$28.9m).

Solina said the acquisition is part of its strategy to “develop its product capabilities and portfolio, across dry seasonings, coating systems and custom-sauces, and a one-stop-shop approach”.

In April it acquired Sauces & Créations, a French sauce producer.

Anthony Francheterre, Solina’s CEO, said: “Quick service restaurants, dark kitchens and home meal replacement are driving growth in the sauce sector, particularly in the highly developed UK foodservice market.

“Yet, there remains a need for custom-sauce capacity and capabilities. Solina, with our culinary heritage, and Zafron Foods, with its complementary capabilities and channels, will address that un-met need while advancing our shared mission to make food matter for people and the planet.”

Jack Kenny, who will stay as a managing director of Zafron Foods with his management team after the deal, said: “We see Solina as the ideal partner to enable the next chapter in our growth story.”

He added: “We can create opportunities for Solina while benefiting from procurement synergies, cross-fertilisation with other liquid solutions sites and their expertise in custom culinary solutions.”

Related Companies

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food