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.
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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.
