HKScan Corporation Stock Exchange Release 2 July 2015, at 3 pm
HKScan acquires 50 per cent stake in Paimion Teurastamo slaughterhouse
HKScan Finland has acquired a 50 per cent stake in Paimion Teurastamo as part of its strategy to boost profitable growth. The slaughterhouse is owned by the Turku-based Kaivon Liha Kaunismaa Oy, which will retain a 50 per cent holding in the company. Paimion Teurastamo will become to HKScan’s portfolio of associated companies.
Specializing in beef slaughtering, Paimion Teurastamo operates in a Paimio-based facility commissioned in 2012. The company is profitable, accruing EUR 13.8 million in net sales in 2014. Last year it slaughtered over 20 000 head of cattle, with volumes rising in the first half of 2015. The company has roughly 40 employees.
Mika Kaunismaa will stay on as the Managing Director and the entire animal sourcing team will also retain their current positions.
HKScan has extensive experience working with Paimion Teurastamo in livestock contract slaughtering. HKScan has also supplied fresh meat to Kaivon Liha Kaunismaa Oy.
HKScan’s CEO Hannu Kottonen stated that the deal supports the Group’s strategic beef project aiming to promote innovation and consumer-driven offering development of beef in all its home markets. Consumers and customers are showing increased interest in for example local beef and organic products.
HKScan additionally has a beef slaughtering facility based in Outokumpu. CEO Hannu Kottonen affirms that HKScan intends to strengthen its beef sourcing capacity on a long-term basis. With two specialized beef slaughterhouses, livestock transport distances are minimized, offering contract producers greater speed and flexibility in pick-up schedules.
Mika and Juha Kaunismaa, co-owners of Kaivon Liha Kaunismaa Oy, stated that the deal will support and strengthen their existing smooth cooperation with HKScan in the sourcing and the meat raw material sourcing and offering development. Founded in Turku in 1968, Kaivon Liha Kaunismaa Oy is a family-run business specializing in beef processing and wholesale. Over the past 40 years it has grown from a small local business into important national meat company. The Group owns Paimion Teurastamo, which is one of its beef suppliers.
HKScan Corporation
Hannu Kottonen
President and CEO
For further details:
- Hannu Kottonen, CEO, HKScan Group
- Please submit your callback request to Marja Siltala, VP Communications Finland, marja.siltala(at)hkscan.com, tel +35810 570 2290.
HKScan is the leading Nordic meat expert. We produce, market and sell high-quality, responsibly-produced pork, beef, poultry and lamb products, processed meats and convenience foods under strong brand names. Our customers are the retail, food service, industrial and export sectors, and our home markets comprise Finland, Sweden, Denmark and the Baltics. We export to close to 50 countries. In 2014, HKScan had net sales of approximately EUR 2.0 billion and some 7 700 employees.
FOR DISTRIBUTION TO:
NASDAQ OMX Helsinki
Key media
www.hkscan.com