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January 31, 2018

Raisio “healthy-foods” focus could see feed unit go

Raisio, the Finland-based food manufacturer, said today (31 January) it is pushing on with its focus on "healthy foods" and is weighing up the sale of its cattle and fish feed businesses.

Raisio, the Finland-based food manufacturer, said today (31 January) it is pushing on with its focus on “healthy foods” and is weighing up the sale of its cattle and fish feed businesses.

The company, which markets food under brands including Benecol and Elovena, sold its confectionery assets before Christmas and another disposal could be in the offing.

Raisio said it had “initiated negotiations on the divestment of its feed businesses with several operators”. A sale of the assets is “one strategic alternative” under consideration, Raisio underlined.

The company added its grain business was not for sale.

The reshaping of Raisio could also involve acquisitions, recently-installed president and CEO Pekka Kuusniemi said this morning.

Alongside the news of the possible sale of Raisio’s feed assets, the company said it would combine its Benecol and Healthy Food divisions. It is also looking to simplify its legal structure.

“To ensure Raisio’s organic growth, we are going to move from a holding-type structure to a model in which all resources are targeted toward supporting the strategic objectives of the healthy food division. Raisio also seeks growth through acquisitions that suit our core business,” Kuusniemi said.

Raisio, meanwhile, said it is to start negotiations with its own staff on measures “to ensure its competitiveness and profitability”.

The company is to hold talks with 115 employees next week and said “an initial estimate” of the job cuts needed is 30. Raisio said it is aiming to complete the statutory talks during March.

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