The current owners of Myllyn Paras and Lantmännen have signed an agreement pursuant to which Myllyn Paras will be sold to Lantmännen. The sale will further support development of Myllyn Paras’ operations and brand. Together, Lantmännen’s and Myllyn Paras’ operations will cover the entire value chain for grain-based food products in Finland, from field to fork.
Myllyn Paras is an iconic Finnish food producer with domestic grain at the core of its business. The group operates two factories in Hyvinkää: a mill with production of pasta, flour and flakes, as well as a bakery for frozen bakery goods and dough. The Myllyn Paras brand is among the most well-known and valued food brands in Finland in the retail and food service sectors. The group’s net sales amount to approximately EUR 60 million and it employs approximately 110 employees. Myllyn Paras is owned by a private equity fund managed by Sponsor Capital and minority shareholders.
Lantmännen is a significant player in agriculture and food products in the Nordics. Today, Lantmännen has an established position on the Finnish market through Lantmännen Agro Oy in the agriculture business, and food producers Lantmännen Unibake Oy, Vaasan Oy (both part of Lantmännen Unibake) and Lantmännen Cerealia Oy. The acquisition will enable Myllyn Paras and Lantmännen to cover the entire value chain for grain-based food products in Finland, from field to fork.
“The acquisition will further improve our abilities to serve our customers and consumers. We are two companies which share the same fundament: extensive experience and profound knowledge of developing excellent food products based on grains, and dedicated and competent employees, which are both key success factors in joining forces going forward” says Miska Kuusela, CEO of Myllyn Paras.
“For Myllyn Paras the acquisition means new opportunities to develop our production, offering and brand. The Myllyn Paras brand is very strong, comparable to the largest food companies. The acquisition enables us to grow our product portfolio and capacity to match the true potential of the Myllyn Paras brand”, continues Kuusela.
“With this acquisition we expand our presence on the Finnish market, well in line with our strategic ambitions to enhance our position in Northern Europe. Milling and baking are part of Lantmännen’s core operations globally, making Myllyn Paras an excellent addition to current businesses in Finland. The offering of Myllyn Paras complements ours in several areas, which paves the way for innovation from field to fork, and a broader product offering that is beneficial for both customers and consumers”, says Per Olof Nyman, President and CEO of Lantmännen.
The transaction is subject to approval of the Finnish Competition and Consumer Authority. Until the transaction is approved, Myllyn Paras and Lantmännen continue to operate as separate companies.
For further information, please contact:
Sami Heikkilä, Chairman of the Board, Myllyn Paras, tel. +358 50 352 8905
Miska Kuusela, CEO, Myllyn Paras, tel. +358 40 820 1943
Myllyn Paras is a Hyvinkää-based company manufacturing, marketing and distributing flour, flakes, grains and pasta as well as frozen dough and bakery products. Myllyn Paras was established in 1928 and today it operates two factories in Hyvinkää and one in Tammela. Myllyn Paras is one of the most renowned food brands in Finland. The group also exports products internationally. Myllyn Paras group employs approximately 110 employees.
For more information: www.myllynparas.fi
Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 19,000 Swedish farmers, Lantmännen has 10,000 employees, operations in over 20 countries and an annual turnover of SEK 45 billion. With grain at the heart of their operations, Lantmännen refines arable land resources to make farming thrive. Some of their best-known food brands are Vaasan, AXA, Bonjour, Kungsörnen, GoGreen, FINN CRISP, and Schulstad. The company is founded on the knowledge and values acquired through generations of farmers. With research, development, and operations throughout the value chain, together Lantmännen takes responsibility from field to fork.
For more information: www.lantmannen.com