Finland-based meat processor HKScan is to offload an egg business in Estonia and the bulk of a hatchery unit in Finland, the latest moves to “simplify” its operations.
HKScan has signed a deal to sell its Estonian egg arm, OÜ Koks Munatootmine, to Danish DAVA Foods Holding, part of Denmark-based agrifood business Danish Agro.
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It has also agreed to sell the majority of its hatchery division in Finland to Danish poultry and pig processor DanHatch. HKScan will retain a 20% stake in the business.
“These deals are further steps in our efforts to rationalise our operations, focus on our core business, improve our productivity and further simplify and clarify the group structure. The changes allow us to further strengthen our position as the leading Nordic meat company,” HKScan CEO Hannu Kottonen said.
Both deals, Kottoen added, will “free up capital”. The transaction in Estonia is subject to the approval of local competition officials.
The company has spent recent quarters reshaping its business. In October, it announced plans to invest EUR85m at plants in Finland and Estonia.
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By GlobalDataHowever, this year it has also cut management jobs in Finland, merged units in Estonia, closed a plant in Sweden and sold its half of a venture in Poland.
