Apetit intends to acquire Sweden’s Foodhills as part of its strategic initiative to enhance the supply of frozen peas.
The acquisition, valued at Skr100 ($10.56), involves Apetit repaying Skr20-30m SEK in loans from Foodhills’ previous owner. Consequently, the final transaction price will be Skr60m.
This deal is scheduled for completion by 30 November, pending approval from the Swedish ISP—the authority overseeing direct investments in Sweden, Apetit stated today (9 October).
Apetit confirmed that Foodhills operates a production facility in Bjuv, Sweden, primarily serving the Swedish foodservice market.
Since 2018, Foodhills has invested over Skr200m into the Bjuv production plant. Although the frozen pea producer generated net sales of Skr167.8m in 2024, it reported an operating loss of Skr54.7m.
The company collaborates with approximately 300 contract farmers in the Skåne and Halland regions.
This acquisition aligns seamlessly with two of Apetit’s key strategic focus areas: expanding its Swedish presence and increasing frozen pea production.
Esa Mäki, CEO of Apetit, remarked, “The acquisition strengthens Apetit’s role as a significant Nordic producer of frozen peas and vegetable-based food.”
He further noted, “The cultivation area and production capacity of Apetit’s frozen peas will grow significantly with the acquisition.”
According to estimates, Apetit will begin producing over 10% of Europe’s frozen peas, reinforcing its core expertise in pea cultivation and production.
Mäki highlighted that the Nordic pea boasts a “unique flavour,” making it a “highly desired product globally.”
He concluded, “By cultivating strategically important frozen peas in both Finland and Sweden, we diversify the geographical area of pea cultivation and mitigate the seasonal harvest risk.”
