In Sweden, Lantmännen Group, northern Europe’s leading integrated agricultural cooperative has announced that it has reached an agreement to acquire full ownership of Scandinavia's largest wood pellet producer Scandbio AB subject to the approval of regulatory authorities."Scandbio has great potential to continue to develop positively in a sustainable industry," says Magnus Kagevik, Lantmännen's COO and Head of Energy Sector.
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Scandbio was formed in 2014 when Lantmännen Group and Finnish Neova Group Oy merged their operations. Since 2014, both owners have been operating the company, with equal shares, as a joint venture.
Lantmännen and Neova have agreed that Lantmännen will buy Neova’s 50 percent of Scandbio, enabling the integration of the company and its approximately 130 employees into the Lantmännen Group subject to the approval of regulatory authorities in Sweden, Denmark, and Latvia.
We are pleased about this opportunity as we believe that Scandbio has great potential to continue to develop positively in a sustainable industry. We look forward to working with Scandbio’s management team and organization to accelerate further development with a focus on both operational and strategic matters, aiming to develop the world’s best pellet company, said Magnus Kagevik, COO and Head of Energy Sector, Lantmännen.
With an annual turnover of approximately SEK 1 billion (≈ EUR 94.3 million) Scandbio is Sweden’s largest company in solid processed wood fuels.
Scandbio manufactures, markets, and sells wood pellets for residential, commercial, and industrial heating applications in Sweden, Denmark, and the Baltic States, as well as bedding pellets for the Swedish market.
The head office is in Jönköping, Sweden, and it operates five pellets plants in Sweden, and one in Latvia totaling around 560 000 tonnes per annum nameplate capacity.
