Apetit acquires 18.4% stake in Foodwest

Finland-based food group Apetit has joined as a shareholder of food business development company Foodwest after subscribing to a 18.4% stake in the firm during a share issue that was carried out during May and June.

Foodwest has widened its ownership base to enable the implementation of a planned factory investment and offer improved services to its customers.

Foodwest’s main owners now include Apetit, Atria, Valio and the City of Seinäjoki following the recent issuance of shares.

Apetit CEO Juha Vanhainen said: “The shareholding in Foodwest supports Apetit’s strategic goals of investing in research and development (R&D), renewing and showing direction for vegetable-based eating.

“At Foodwest we have number of R&D specialists alongside our own resources.

“Also, we have an opportunity to produce selected products through Foodwest and therefore the new plant investment is in our interest”.

Foodwest primarily provides support services relating to consumer understanding, product development and commercialisation to food business operators.

The company’s service offering also comprises distribution and contract manufacturing.

Vanhainen added: “Eating trends have been changed dramatically and, for example, the increasing popularity of vegetable-based diet is evident globally.

“Apetit is number one in vegetables in Finland, but one of our goals is to increase international food trade.

“We must continuously be able to provide modern and interesting products created for certain markets in Finland and internationally.

“Our shareholding in Foodwest increases our agility to respond to consumer needs.”

Foodwest employs 30 personnel across its three offices, which are located in Seinäjoki, Tampere and Helsinki.

The company’s new investment in the Seinäjoki facility is scheduled to be completed by the end of 2019.