Valio has successfully acquired two fava-bean brands from fellow Finnish food group Raisio.
This strategic move, part of a €7m (US$7.3m) transaction, allows Finnish dairy giant Valio to purchase Raisio’s plant-protein business, which includes the well-known Härkis and Beanit brands.
Valio’s executive vice president, Tuomas Salusjärvi, stated, “The food system of the future will include plant-based and animal-based food, as well as food produced by cellular agriculture.” He added, “This is the foundation of Valio’s strategy, which sees us growing from a dairy company into a food company. This business acquisition is one step on our path of growth.”
Meanwhile, Raisio disclosed that the transferred assets garnered net sales of €4.5m in 2024, a decrease from €5.5m in 2023. Furthermore, last year’s operation incurred a “comparable” EBIT loss of €2.6m, compared to €3.2m in 2023.
Raisio initially acquired the ownership of the Beanit and Härkis brands from Norway’s Kavli in 2021.
Raisio CEO Pasi Flinkman emphasized, “Promoting the food transition with plant-based food and innovating new things will continue to be key parts of Raisio’s strategy and operations, even though we have now decided to divest this business.”
The acquisition will also result in 16 employees transitioning to Valio, which will take over the production equipment located at a site in Kauhava, Finland. Raisio has been leasing this property and will sublet it to Valio.
As Finland’s largest dairy enterprise, Valio’s portfolio encompasses the Oddlygood range of plant-based dairy alternatives.
Launching the Oddlygood brand in 2018, Valio looked for a co-investor in May 2021. By year-end, Mandatum Asset Management had committed €25m to the venture.
In October, Oddlygood expanded its reach by acquiring UK competitor Rude Health, which specializes in plant-based milks made from ingredients such as oat and coconut.
Moreover, during the same month, Valio announced plans to close a domestic factory and warehouse, aiming to enhance the “efficiency and profitability” of its production processes.
