NORWAY: Kavli acquires Raisio's non-dairy ops
Norwegian food manufacturer Kavli has acquired the non-dairy assets and brands of Raisio for an undisclosed sum.
The businesses, which generates annual sales of around EUR7m (US$9.1m), produces oat, soy and rice-based non-dairy products at a factory in Turku. The sale includes the Nordic Milkfreedom and Soygurt brands, as well as the licenses to the brands of Carlshamn Mejeri, Sunnuntai and Nalle non-dairy products.
With the acqusition, Kavli will "strengthen" its foothold in the Finnish and Swedish markets, by entering a new category, the company said.
For its part, Raisio indicated that the deal was part of its strategy to focus on core operations. Last month, Raisio CEO Matti Rihko told just-food that the firm intended to drive growth in healthy snacking while improving efficiency to boost margins.
Kavli buys Raisio's non-dairy business
Raisio plc Stock Exchange Release, 5 March 2013
KAVLI BUYS RAISIO'S NON-DAIRY BUSINESS
Norwegian Kavli Group is to buy the fixed assets and some brands of Raisio's non-dairy business. Raisio has produced oat, soy and rice-based non-dairy products at its factory in Turku since 2006. Non-dairy business has annual net sales of around EUR 7 million. The sale of the business is part of Raisio's move towards focusing on its core activities.
The companies have today signed an agreement on the sale of non-dairy fixed assets and brands. Through the deal, Kavli will acquire the Nordic Milkfreedom and Soygurt brands, as well as the licenses to the brands of Carlshamn Mejeri, Sunnuntai and Nalle non-dairy products. In future, Kavli will produce under contract manufacturing agreement Raisio's Elovena snack drinks, which have strengthened their position in the Elovena product line.
The business is to be transferred to the new owner during the second quarter of 2013. The Turku factory has 10 employees, who will continue under the same terms of employment when the business is taken over by Kavli. With the acquisition Kavli Group will strengthen its foothold in the Finnish and Swedish markets with a new product category.
Kavli Group is one of Norway's largest and most international food companies, employing some 800 staff. The Group's turnover is around EUR 330 million. Besides Norway, Kavli has companies in Sweden, Finland, Denmark and the UK. Kavli is owned by the Kavli Trust.
Original source: Raisio
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