Nestlé has reached an agreement to sell two of its cooking sauces and stocks brands to French ingredients supplier, Solina.
Neither company has disclosed the financial details of the deal.
The acquisition, expected to close by the end of March, covers the Oscar and Puljonki brands. It also includes Solina’s takeover of the brands’ respective factories in Rønnede, Denmark, and Juuka, Finland.
Around 132 people work at the plants. Their jobs will be unaffected by the takeover, a Nestlé spokesperson told Just Food.
No other Nordics units are impacted by the transaction, the Aero chocolate maker said.
Oscar and Puljonki, which are part of the company’s Nordic Professional Premium Culinary range, produce stocks, sauces, broths and soups.
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Following the transaction, Hälsans Kök plant-based protein will be the sole food brand remaining in Nestlé’s Nordic Professional Premium Culinary range.
Nestlé first acquired Oscar and Puljonki from the Paulig Group in 2011.
Products sold under the brands are primarily catered to the foodservice industry . They are sold in Denmark, Finland, Belgium, Germany, France and the Netherlands.
Both brands combined booked annual revenue of €45m ($48.5m) in 2023.
In a statement, Torben Emborg, head of Nestlé Nordics, said: “We firmly believe that Solina is the right new owner and that they will provide the right environment for nurturing the continued success of the Professional Premium Culinary Business in the Nordics.
“Nestlé remains committed to the Nordics, and will continue to offer high quality food and beverage products to Nordic families, in and out of home.”
Solina produces a range of cooking ingredients to some 18,000 customers across foodservice, butchery and food manufacturing. Its products include sauces, seasonings, dressings, as well as protein drinks and powders.
The group has 39 production sites across North America and Europe and 3,600 employees, and has an annual turnover of €1.2bn.
Commenting on the news, Solina CEO Anthony Francheterre said the acquisition “strengthens our foothold in the food service sector in Europe and globally”.
He said: “This positions Solina to cater to customers in the casual dining segment with innovative food solutions that excel in taste, nutrition, and more. Additionally, their advanced offerings enrich and further diversify our extensive sauce and liquid capabilities.”
Francheterre added the move “signifies a pivotal moment in our ambition to lead across various channels in the global food landscape… Upon integration into our network, Oscar and Puljonki will leverage the benefits from our global position, and strong connections within the European foodservice sector.”