Scandi Standard, the largest chicken producer in the Nordic region, has signed an agreement to acquire Huttulan Kukko Oy’s chicken business in Finland.
Huttulan sells Finnish chicken to retail and foodservice customers, employing 42 staff and processing approximately 1.4 million chickens per annum.
“I am very pleased to announce this acquisition”, said Leif Bergvall Hansen, CEO of Scandi Standard. “Finland is a very attractive market for Scandi Standard which shares many of the features of quality, health and welfare of chicken with the other Nordic countries. This acquisition brings to Scandi Standard an established team in Finland with a new business and a new processing facility. It is a good first, small step into this promising market”.
According to a press release, Scandi Standard will pay a price of €10 million now, of which €5 million is debt assumed. The price may increase to €13m over five years, depending on future performance.
Source: Scandi Standard