POELLATH advises Savory Solutions Group on sale to PAI Partners
Munich, Germany — French private equity firm PAI Partners (“PAI”) has acquired Savory Solutions Group, a leading international provider of flavor and functional solutions for the food sector. The seller was International Flavors & Fragrances Inc. (“IFF”). The merger is still subject to the usual regulatory approvals. The closing of the transaction is expected to be completed by the second quarter of 2023. POELLATH provided comprehensive legal advice to the management of Savory Solutions Group in connection with the sale.
Savory Solutions Group, particularly under the Wiberg and Piasa brands, offers a range of value-added savory ingredients and blends. The solutions are used by food manufacturers, butchers as well as foodservice operators to improve texture and taste and extend the shelf life of their products. The company operates 17 production sites and nine innovation sites and employs over 1,800 people. Savory Solutions Group serves more than 11,000 customers in Europe, North America and Asia. The Group generates sales of around 470 million euros.
Together with PAI, Savory Solutions Group will continue to accelerate the business through international expansion in Europe and North America, both organically and through acquisitions, particularly in the attractive vegetable and clean label segments. — The acquisition is subject to customary regulatory approvals and is expected to close by the second quarter of 2023.
French private equity firm PAI Partners invests in market-leading companies around the world with a strong focus on the food and consumer goods industries.
Advisor Savory Solutions Group: POELLATH, Munich
Dr. Benedikt Hohaus (Partner, Management Investments)
Jan Lukas Jungclaus, LL.M. (Stellenbosch) (Associate, Management Participations)
Ida Süß, LL.M. (UCLA) (Associate, Management Associates)
About PAI Partners
PAI Partners is a leading private equity firm investing in market-leading companies worldwide. PAI Partners manages €26.4 billion of buyout funds and has completed 92 investments in 11 countries since 1994 with a transaction value of over €72 billion. PAI has built an outstanding track record of working with ambitious management teams where unique perspective, unmatched industry experience and long-term vision enable companies to reach — and go beyond — their full potential. www.paipartners.com.