Fazer Group has acquired Sweden-based oat-drink producer Trensums Food, adding to the Kaslink business the Finnish food company bought two years ago.

Trensums, founded in 1948 and located in Tingsryd, south-east Sweden, has been purchased from Profura Gruppen, a Gothenburg-based investment company, for an undisclosed sum. The deal is subject to approval from the competition authority in Sweden.

The business generated revenues of SEK779m (US$85.6m) in the year ended in April. It manufactures for other food companies and retail customers. The company will become part of Fazer’s lifestyle foods division focused on oat-based, non-dairy products.

In 2019, Fazer bought the family-owned company Kaslink, which produces Scandinavian plant-based cooking products, drinks and snacks, with Nordic oats playing a central role. It is based in Koria, Finland.

Christoph Vitzthum, president and CEO of Fazer, said in a statement: “Consumer demand for nutritious plant-based foods is growing fast and our ambition is to become one of the leading players in oats and plant-based food in northern Europe.

“The acquisition gives Fazer an even stronger foothold in a rapidly growing category and the opportunity to expand in our current and future markets. With its long history in oat drinks, Trensums Food will also offer us extensive manufacturing and R&D expertise to further strengthen Fazer’s already strong know-how in oats.”

Mikael Thörnkvist, the CEO of Profura, added: “In Fazer, we see a strong owner, who is good at oats and wants to invest in plant-based products. This creates good opportunities for Trensum’s continued development, which of course is also positive for Tingsryd.”

Over the last three years, Fazer has invested in developing its oats business, including doubling its oats milling capacity. The investment made was equally divided between the mills in Lidköping in Sweden and Lahti in Finland.