Fazer, the leading Finnish bakery and confectionery firm, has announced it has agreed to Kaslink, a family-owned company specialising in Scandinavian cooking products, drinks and snacks, for an undisclosed sum.
Kaslink’s product range includes Aito Oat Milk, Maire dairy products, Koria protein drinks, Vesi Water and Nordic Cuisine cooking sauces. The firm had net sales €65 million ($73 million) in 2018 and employs 170 staff.
“With this acquisition, Fazer is speeding up its transformation into a modern sustainable food company with a joint direction”, the company said in a statement, adding that plant-based products and solutions were strategic growth areas for the firm.
Fazer Group president and CEO Christoph Vitzthum said: “We are excited to announce this acquisition as it would be a perfect match for Fazer in executing our strategy. Kaslink is an innovative actor with strong commercial insights, modern production facility and proficiency in production based on technological know-how. These create a highly competitive foundation for selling, marketing and producing sustainable oat-based products on an international scale”.