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Scandi Standard AB's (publ.) ("Scandi Standard" or the "Group") Finnish subsidiary Naapurin Maalaiskana has entered into a binding agreement to acquire Landeli Oy Group's ready-to-eat activities in Honkajoki ("Honkajoki"). The parties have agreed not to disclose the terms of the transaction.
In recent years Finnish Naapurin Maalaiskana has succeeded in maintaining a good level of growth, primarily driven by the continued positive development of its own brand Naapurin Maalaiskana. Through the acquisition, more capabilities are added to the business.
- I am confident that the addition will further differentiate our business in Finland and strengthen the Naapurin Maalaiskana brand. The deal is also intended to improve our overall price realization in Finland since it allows the domestic sale of more parts of the chicken which would otherwise be exported at discounted pricing. The Honkajoki business provides us with a great platform to develop this part of the Finnish market over the coming years, says Jonas Tunestål, CEO of Scandi Standard.
For further information, please contact:
Jonas Tunestål, VD Scandi Standard, +46 73 355 5389
Henrik Heiberg, Head of M&A, Financing & IR Scandi Standard, +47 917 47 724