HKScan has announced the acquisition of a 50% share in meat slaughterhouse Paimon Teurastmo from owner Kaivon Liha Kaunismaa Oy.

The company said the move was part of its strategy to "boost profitable growth".

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Paimon specialises in beef slaughtering. It made sales of EUR13.8m last year and has 40 employees.

Mika Kaunismaa will stay on as the managing director and the entire animal sourcing team will also retain their current positions.

HKScan’s CEO Hannu Kottonen said: "The deal supports the group’s strategic beef project aiming to promote innovation and consumer-driven offering development of beef in all its home markets. Consumers and customers are showing increased interest in for example local beef and organic products."

Mika and Juha Kaunismaa, co-owners of Kaivon Liha Kaunismaa Oy, added the deal will support and strengthen their existing smooth cooperation with HKScan in the sourcing and the meat raw material sourcing and offering development.

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