Found all over Europe, Soreal Ilou (Brie, 100 employees), a specialist sauce-maker, is going to create a JV with its Egyptian partner ICFI (International Company for Food Industries). This operation is based on trading skills and will be a way for it to enter the North African and Middle Eastern market. ICFI has a sauce factory in this area (50 employees) capable of supplying 5 kT/year. The market represents 100 million young consumers who regularly consume sandwiches, burgers, salads and pizzas enhanced by sauces including samurai, teriyaki, Thai, Texas grill, caesar or ranch, Madras curry and Thousand Islands.
As specialist in sauces for restaurant chains like Pizza Hut, Bridor, Mie Câline and McDonalds, Soreal is targeting €25M turnover in 2016 in France, €15M in Spain with its traditional partner Aliminter and €4M in Cairo. Overall, half the company’s turnover comes from overseas and it aims to become a market leader in sauces for the catering and agri-food sectors. Its very strong innovative capability makes the SME stand out from other players in the sector. It devotes about 5% of its turnover to R&D every year to renew 30% of its products. It also regularly wins awards for its innovations, such as its solid sauce slice for burgers, Soslice, or its plant-based sausage casing, Sonjal.
Sources : Ouest France – 18/10/2016 API Newsletter – 23/11/2016
Photo credit : Soreal Ilou