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.

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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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