HKScan, a Finland-based food group, is investing €8m ($8.8m) into a convenience-foods factory in western Finland. This investment will focus on developing new ready-to-eat products at the Eura facility. The company is reshaping parts of its domestic business and selling assets outside Finland to streamline operations.
This investment is expected to enhance the added value of its products, improve operational efficiency, and meet the increasing demand among consumers for convenient cooking solutions. The new products are slated for launch in the first quarter of 2025 and will include prepared pizzas under the HK and Via brands.
Jari Leija, executive vice president of HKScan’s Finnish business unit, highlighted that this investment will strengthen the company’s market position in higher value-added products, meeting the expectations of customers and consumers for ready-to-eat options. The company aims to improve profitability and build a stronger foundation for future competitiveness, envisioning growth as a versatile food company.
Previously, Eura housed HKScan’s poultry packing operations. The company plans to centralize these activities in Rauma and Forssa to achieve cost savings. Additionally, HKScan is exploring divesting its business in Denmark and has already agreed to sell its Swedish unit to Lantmännen for €60m, along with the repayment of an intra-group loan.
In the financial year ending December 2023, HKScan reported annual net sales of €1.16bn across Finland and Denmark, marking a 6% increase from the previous year. Annual EBIT also improved significantly to €17.4m.
Transitioning to a more sustainable future, these strategic moves align with HKScan’s commitment to growth and efficiency in the food and beverage industry. As consumer trends continue to evolve towards convenience and quality, HKScan’s investments reflect a proactive approach to meeting changing market demands.
