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Lantmännen to acquire HKScan’s Swedish operations

Lantmännen to acquire HKScan’s Swedish operations
With annual sales of over EUR 1.8 billion, HKScan Oyj is a Nordic meat- and protein processing major serving Danish, Finnish, and Swedish consumers with locally produced food under well-known brands.

Nordic integrated agricultural cooperative Lantmännen Group has announced that it has signed an agreement to acquire meat processing company HKScan Sweden AB from Finland-headed HKScan Oyj. The deal includes all operations in Sweden, as well as the brands Scan, Pärsons, and Bullens.

Since 2007, HKScan Sweden AB has been owned by the Finnish food company HKScan Oyj, which also operates in Finland and Denmark. In Sweden, the company offers meat- and plant-based food from Swedish farms. It employs about 1,800 people, and in 2022 had net sales of some SEK 8 billion (≈ EUR 720 million).

Of strategic importance

The Swedish business has production facilities in Kristianstad, Skara, Linköping, and Halmstad – and its Swedish headquarters in Stockholm.

This acquisition is strategically important for Lantmännen and our members. The acquisition allows us to secure domestic ownership of HKScan’s Swedish operations, and thereby the future of Swedish animal production. That is important for creating growth in the agricultural sector – and strengthens the national food supply preparedness, said Per Lindahl, Chairman of Lantmännen’s Board of Directors.

According to Läntmännen, the acquisition, which is subject to approval by relevant authorities and is expected to be completed during the first half of 2024, creates further good opportunities for continuing to lead the development of sustainable and profitable Swedish farming, and for producing good food in the entire country.

The agreed acquisition means that Lantmännen is broadening and strengthening its business portfolio from field to fork – and that long-term conditions for Swedish agriculture are strengthened.

Lantmännen has a unique position in the food value chain, and this acquisition gives us a broader and stronger business portfolio. We are already present in significant parts of the livestock value chain through input goods, machinery, and refinement of grain into high-quality feed. Together with HKScan’s market-leading Swedish brands and knowledge, we see good opportunities for further developing our businesses and Swedish animal production, and for creating further value for our members, said Magnus Kagevik, President and CEO of Lantmännen Group.

Lantmännen acquires 100 percent ownership of HKScan Sweden AB, which encompasses the entire Swedish operation of HKScan.

In connection with the acquisition, Lantmännen transfers all its existing shares in HKScan Oyj to HKScan Oyj.

We look forward to becoming part of a leading group that is solidly anchored in Swedish agriculture. Lantmännen’s strategy from field to fork, with a focus on sustainable development and responsible growth, goes well with our strategy – and together, we will become a central business partner in the work with securing Swedish food supply, said Lars Appelqvist, EVP of HKScan Business Unit Sweden.

Lantmännen and HKScan Sweden AB will continue to operate as separate companies until the transaction has been approved and completed.

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