Fazer agrees to acquire Scandinavian food manufacturer Kaslink

Finnish food company Fazer Group has agreed to purchase Scandinavian food products manufacturer Kaslink.

Financial details of the deal have not been divulged.

Located in Koria, south-east Finland, Kaslink is a family owned business and specialises in manufacturing premium Scandinavian food products, including cooking products, drinks and snacks. It also has expertise in oat products.

Its products are offered under various brands, including Kaslink Aito, Maire, Koria, The Vesi and Nordic Cuisine, which are sold in over 15 European countries.

Kaslink founder Raino Kukkonen said: “Within the family, we had considered different options for some time already. We came to the conclusion that our ambition to grow would require more substantial resources.

“We found that the best solution would be to move on with a new, significantly larger partner. It is of paramount importance to us that the ownership should remain in Finland.  Fazer is a Finnish family owned company with whom we share the wish to change how the world will eat in the future.”

By acquiring Kaslink, Fazer intends to fast-track its transformation into a sustainable food company.

Fazer will focus on plant-based products and solutions, which are considered to be strategic growth areas.

Fazer Group president and CEO Christoph Vitzthum said: “We are excited to announce this acquisition as it would be a perfect match for Fazer in executing our strategy.

“Kaslink is an innovative actor with strong commercial insights, modern production facility and proficiency in production based on technological know-how. These create a highly competitive foundation for selling, marketing and producing sustainable oat-based products on an international scale.”

Completion of the deal is subject to Finnish Consumer and Competition Authority approval.

Upon completion, Kaslink is expected to become part of the Fazer Lifestyle Foods business, which focuses on non-dairy grain products, plant-based meals and on-the-go snacking products.

Fazer expects growth opportunities in oats. During the past few years, the company has invested €30m in its milling business in Finland and Sweden.

In January, the company announced its plans to invest €40m in an oat hull based xylitol manufacturing facility in Finland.