Lantmännen has signed an agreement to acquire HKScan Corp.’s Swedish operations, HKScan Sweden AB. The acquisition includes all operations in Sweden, as well as the brands Scan, Pärsons and Bullens. The acquisition means Lantmännen is broadening and strengthening its business portfolio from field to fork – and that long-term conditions for Swedish agriculture are strengthened.
Since 2007, HKScan Sweden AB has been owned by the Finnish food company HKScan Corp., which also operates in Finland and Denmark. In Sweden, the company offers meat- and plant-based food from Swedish farms, employs about 1,800 people, and in 2022 had net sales of some SEK8 billion (US$7.8 million). The Swedish business has production facilities in Kristianstad, Skara, Linköping and Halmstad, and is headquartered in Stockholm.
“This acquisition is strategically important for Lantmännen and for our members. The acquisition allows us to secure domestic ownership of HKScan’s Swedish operations, and thereby the future for 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.
The acquisition creates further opportunities for continuing to lead the development for sustainable and profitable Swedish farming, and for producing good food in the entire country.
“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, Lantmännen’s group president and CEO.
Lantmännen will acquire 100% 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 Corp. to HKScan Corp.
“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 own strategy – and together, we will become a central business partner in the work with securing Swedish food supply,” said Lars Appelqvist, executive vice president of HKScan Business Unit Sweden.
The transaction must be approved by relevant authorities and is expected to be completed during the first half of 2024. Until the transaction is completed, Lantmännen and HKScan Sweden AB continue to operate as separate companies.
