Raisio has created the position of M&A director to help drive its acquisition agenda under the Finnish health food group’s new strategy and structure.
Anni Palmio has been appointed to the role, joining the publicly listed Benecol brand owner from another Finnish CPG company, Paulig. There, she was the strategy and M&A manager since 2019. She has also held brand and marketing roles at frozen-food firm Findus (Nomad Foods) and in confectionery at Haribo.
CEO Pasi Flinkman introduced a new three-year strategy in March, replete with a fresh set of financial targets and a change in business structure, along with an inherent plan to increase market share through acquisitions. Entry into new categories would also feature in the objectives.
To assist Palmio, Raisio said today (12 August) that it has also now formed an M&A committee. It will assist the company’s board in the “processes and the development of strategic work related to M&A”.
“Acquisitions can strengthen Raisio’s market positions, support the company’s current growth categories or help expand into new categories. We are delighted to welcome an M&A professional with strong FMCG experience to our team,” Flinkman said in a statement today.
Raisio reorganised its business in the spring into two physical, category-focused areas, and a third to concentrate on new business.
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By GlobalDataBreakfast and snacking, and heart health, form the first two. In those areas, the Elovena granola oatmeal and oat drinks brand owner said it would seek to outpace market growth.
In addition to the Benecol cholesterol-fighting yogurt and spreads line, Raisio also owns the Torino pasta brand and Nalle porridge. The business also supplies the B2B sector with oat-based ingredients.
Raisio also reported its first-half results in a separate announcement today.
Net sales dipped 0.4% to €112.4m ($130.4m) in the six months through June, while profits rose in the double-digit area.
Comparable EBITDA climbed 12% to €18.7m and EBITDA was up 17% at €18.1m.
Comparable EBIT increased 20% to €14m and regular EBIT rose 28.8% to €13.4m.
Earnings per share edged up to €0.07 from €0.06.
Raisio laid out some longer-term targets in March to accompany the restructuring.
It set a goal to achieve €250m in sales by the end of 2027, representing a more than 10% increase in organic terms from last year’s print of €227m.
The company is also targeting EBIT of €30m over the strategy period, around 28% more than the €23m recorded in 2024.
Flinkman commented on the latest results: “In line with the objectives and plan for this strategy period, which emphasised improving profitability at the beginning of the period, our earnings have developed faster than our sales during the first half of the year.
“In the long run, however, accelerating organic growth is critical. Improved margins through streamlined operations will enable either greater marketing investments or more aggressive pricing, depending on market demand. This means that by improving our earnings and efficiency, we are laying the foundation for faster growth.”
