Raisio has a 35% market share of the Finnish cattle feed market and had sales in 2017 of 74 million euros. Acquiring Raisio’s cattle feed business enables Lantmännen to further broaden its offerings and strengthen its presence within agribusiness on the Finnish market, the company said.
|er Olof Nyman, president and chief executive officer of Lantmännen|
“The acquisition strengthens Lantmännen’s position in the grain value chain in the Baltic Sea region,” said Per Olof Nyman, president and chief executive officer of Lantmännen. “We already have large holdings in the bread and malting industry plus an established agriculture business through Lantmännen Agro Oy, with independent distributors throughout the country. Adding yet another business segment within our agriculture-based business in Finland makes us a more complete business partner for Finnish farmers.”
The acquisition includes more than 70 employees. In addition to its principal business, feed production, Raisio’s cattle feed business pursues research and development into animal feed and is a leader in the digitalization of agriculture services.
|Pekka Kuusniemi, president and CEO of Raisio|
“The cattle feed business divestment is an important step toward Raisio’s strategy focusing on healthy foods and profitable growth,” said Pekka Kuusniemi, president and CEO. “We are pleased that the new owner of the cattle feed business is a company that has a significant position in the Nordic countries and the desire to further develop the business.”
The acquisition is a strategically important step that will enable further development and growth in Finland, Kuusniemi said.
|Elisabeth Ringdahl, head of the agriculture sector at Lantmännen|
“Raisio has a well-established feed business that complements our present offer to Finnish farmers via Lantmännen Agro Oy,” said Elisabeth Ringdahl, head of the agriculture sector at Lantmännen. “We see synergies with our existing business, but above all, the acquisition will enable us to broaden our offer and become a leading supplier to Finnish agriculture customers.”
The transaction is expected to be completed no later than quarter three 2018, following the approval of the relevant competition authorities.