Lantmännen’s meat arm Scan Sverige has acquired the Swedish charcuterie brand Slaktarkorv.
Financial terms of the transaction were not disclosed as Lantmännen said in a statement the deal concerns the brand itself and builds on an existing collaboration under which Scan Sverige has been handling Slaktarkorv’s processing and production.
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The Swedish agricultural cooperative added that the acquisition enables Scan Sverige to “strengthen” Swedish food production and its “attractive offering” in sausages and charcuterie.
Lars Appelqvist, MD of Scan Sverige, said the deal is another step to “increase the availability and range of Swedish meat and charcuterie”.
Appelqvist continued: “Slaktarkorv has experienced solid growth in the market over the past year in terms of both turnover and volume, and there is great potential to further develop the business.”
Slaktarkorv was launched in 2013 by agricultural entrepreneurs Åsa Lillbro and Per Karlsson.
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By GlobalDataCurrently, the brand is “well-established”, with a “broad geographic presence and nationwide sales”, Lantmännen said.
Its portfolio focuses on products made from Swedish meat.
Karlsson said: “We are proud of the journey we have made with Slaktarkorv – from idea to established brand with a presence among all major players in retail.
“That it is now being sold to Sweden’s leading meat and charcuterie company, which will continue to develop the brand.”
The deal follows another move by Scan Sverige earlier this year, when it agreed to buy Swedish meat producer Lindvalls Chark in order to “broaden its business portfolio”.
Lantmännen is owned by around 17,000 Swedish farmers and employs approximately 12,000 people in more than 20 countries. Among its consumer-facing food brands are Kungsörnen, Scan, and GoGreen.
Its turnover increased 4.2% last year to Skr68bn ($7.3bn). Operating income rose 22.6% to Skr2.87bn while net income climbed 32% to Skr2.06bn.
Lantmännen reports interim figures in four-month segments. The most recent, covering May to August, showed net sales slipped 3.2% to Skr19.48bn.
Operating income declined 53% to Skr655m, affected by restructuring charges of around Skr340m tied to an ongoing savings programme.
Net income fell 35.8% to Skr439m.
The group’s food division, which also includes Cerealia and Unibake, reported operating income of Skr519m, up 3.8% from a year earlier.
Net sales dipped 1% to Skr10.2bn. Scan Sverige’s sales rose 8% to Skr3.19bn.
Announcing the results in October, Lantmännen said the Scan Sverige business is developing “positively, and increased both its results and market shares during the four-month period”.
