Solana Acquires Suncan: A Strategic Expansion
Deal News | Dec 27, 2024 | Legal Community Italy
Solana, under the portfolio management of Xenon, has successfully completed the acquisition of Suncan, a key player in the agro-food sector, focusing on the preservation and transformation of tomatoes, fruits, and other vegetable products. The acquisition empowers Solana to fully incorporate Suncan's capabilities and expand its operational footprint in the agricultural market. Xenon's team, led by Franco Prestigiacomo, played crucial roles along with Francesco Banfi and ESG lead Teresa Toniutti. The legal advisory was provided by Giovannelli e Associati, while financial diligences were managed by Deloitte & Touche, tax aspects by PricewaterhouseCoopers, and HSE/ESG elements by Greenwich.
Sectors
- Private Equity
- Agro-Food
- Legal Services
- Corporate Finance
Geography
- Italy – The article pertains to the acquisition activities in Italy, with legal firms based in Italy involved in the transaction.
Industry
- Private Equity – The involvement of Xenon, a private equity firm, in backing Solana for the acquisition highlights this industry.
- Agro-Food – Suncan operates within the agro-food industry, specializing in the transformation and preservation of fruit and vegetable products.
- Legal Services – The participation of Giovannelli e Associati and Gelmetti Studio Legale Associates indicates the legal advisory industry.
- Corporate Finance – Deloitte & Touche, PricewaterhouseCoopers, and Greenwich's roles in due diligence exhibit the corporate finance industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Solana | Buyer | Company | Solana is the acquiring company, expanding its operations in the agro-food sector. |
| Suncan | Target | Company | Suncan specializes in the preservation and transformation of agro-food products. |
| Xenon | Private Equity Firm | Company | Xenon is the private equity firm managing Solana, backing the acquisition. |
| Giovannelli e Associati | Legal Advisor | Company | Provided legal advisory services to Solana for the acquisition. |
| Gelmetti Studio Legale Associato | Legal Advisor | Company | Assisted Xenon on legal aspects of financing. |
| Deloitte & Touche | Financial Advisory | Company | Conducted financial due diligence for the acquisition. |
| PricewaterhouseCoopers | Tax Advisory | Company | Managed tax due diligence for the transaction. |
| Greenwich | HSE/ESG Advisory | Company | Handled HSE/ESG due diligence aspects. |