Finnish meat processor HK Ruokatalo has said it plans to launch a strategic plan to cooperate with Danish Crown in the Polish marketplace through the ownership of Polish meat company Sokolów.
HK Ruokatalo said the cooperation was made possible by Danish meat processor Danish Crown agreeing to acquire from the Federation of Swedish Farmers a 22.54% shareholding in Sokolów. Sokolów’s largest shareholder is HK Ruokatalo, which in July increased its ownership in the Polish company to 30.10%.
The strategy is intended to take the form of joint ownership through a holding company by the name of Saturn Nordic Holding. HK Ruokatalo and Danish Crown plan to divide the holding company’s shareholding on a 50/50 basis.
HK Ruokatalo CEO Simo Palokangas said the company had for some time been seeking a strategic partner on the international market and believes cooperation with Danish Crown will bolster the standing of HK Ruokatalo on the European market.
The Finnish company added that due to the scope of the cooperation and to Poland’s stock market legislation, the deal must be submitted for approval to both the Polish authorities and EU competition authorities.