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Valeo Foods, the Irish food company, has announced that it is acquiring the plant protein business of Finnish food business Raisio.
The deal, valued at €7 million ($7.28 million), includes production equipment at Raisio’s plant protein factory in Kauhava, Finland, as well as the Harkis and Beanit brands.
Commenting on the deal, Valeo Foods senior vice president Kimmo Luoma said: “This business acquisition will make us an even more significant developer and producer of plant-based protein products. The demand for these products will grow in the long term, and a great deal of growth potential still remains. […] With this acquisition, we are building our own production capacity. The production equipment of the Kauhava factory is just right for our needs and situation”.
Raisio CEO Pasi Flinkman added: “Promoting the food transition with plant-based food and innovating new things will continue to be key parts of Raisio’s strategy and operations, even though we have now decided to divest this business. We are currently in the final stages of our strategy process and will present our future strategy in March”.
The transfer is expected to take place in March, with 16 employees set to move to Valeo Foods.
Source: Raisio / Valeo Foods
