La Doria Acquires Solana from Xenon Private Equity

La Doria, a prominent Italian private-label food producer backed by Investindustrial, has finalized the acquisition of Solana, a significant player in the tomato processing sector. This strategic move, orchestrated by Xenon Private Equity through its vehicle Eight Holding One, marks an exit for Xenon after a little over two years of ownership. The transaction, which includes Solana's subsidiaries Suncan and Desco, is anticipated to receive regulatory approval by the close of September 2026.

Xenon Private Equity initially acquired Solana from its founding families in May 2024. The firm subsequently enhanced the platform by integrating Suncan later that year and Desco in 2025. These bolt-on acquisitions were instrumental in extending Solana's operational footprint into central Italy and solidifying its market standing within the industrial and foodservice supply chains. Franco Prestigiacomo, co-chief executive at Xenon, highlighted the firm's role in fostering this expansion, emphasizing that La Doria represents an ideal steward for Solana's future growth.

The acquired entity, Solana, established in 2001 and headquartered near Lodi, operates as a focused industrial platform. Approximately 91% of its revenue is derived from processing tomatoes into various forms, including pulp, concentrates, and purées. The remaining revenue stream comes from other plant-based products like fruits, basil, and pumpkin. The company manages three production facilities with an aggregate annual capacity of around 285,000 tonnes. In the fiscal year ending June 2025, Solana reported a turnover of approximately €90 million, serving industrial clients (roughly 70% of sales) and the foodservice sector (30%), with a customer base spanning Italy, Europe, and Japan.

This acquisition significantly amplifies La Doria's production capabilities within the tomato products segment, particularly for industrial and foodservice channels. La Doria, a leader in private-label manufacturing, generated substantial revenue of approximately €1.375 billion in 2025, with nearly 90% of its business in private label. Antonio Ferraioli, Chairman and CEO of La Doria, stated that the integration of Solana, recognized for its premium market positioning, will not only bolster production capacity but also broaden the group's geographical reach across Italy.

The integration of Solana's operations will bring La Doria's total number of plants to fifteen across Italy. This expansion deepens La Doria's presence in both northern and central Italy, creating synergistic opportunities for cross-selling, especially within the foodservice market. The Italian food processing industry, a vital component of the European agri-food sector, is characterized by consolidation and a growing demand for high-quality, sustainably sourced ingredients, making strategic acquisitions like this crucial for maintaining competitive advantage.

The European tomato processing market is a significant segment within the broader food manufacturing industry, driven by demand from both retail and foodservice. Key trends include a focus on value-added products, efficiency improvements in processing, and adherence to stringent quality and sustainability standards. La Doria's move positions it to capitalize on these trends, leveraging Solana's established infrastructure and market reputation to enhance its overall offering and market share in a competitive environment.