Finnish meat group HK Ruokatalo said it had bought the remaining 24% of the shares in the Estonian poultry producer Linnulihatooted it did not already own.
The company did not comment on the transaction cost.
Ruokatalo is already Finland’s leading poultry producer and managing director Simo Palokangas said he now saw possibilities of further synergies between its poultry arm Broileritalo and Linnulihatooted. Broileritalo claims a 57% market share in Finland.
Palokangas said Ruokatalo had given priority to expansion in the Baltic region, and in line with those ambitions, he did not exclude further purchases in the region as well as organic growth in existing units, and poultry and pork meat production were its main objectives. Today, poultry accounts for about half of Ruokatalo’s operations, while pork accounts for nearly 30%.
Ruokatalo is a listed company and is controlled by Finnish farmers. Swedish meat group Swedish Meats and the Federation of Swedish Farmers each hold 10% in Ruokatalo.
By Jerry Simonsson, just-food.com correspondent