Apetit plans to acquire the Swedish Foodhills as part of the Finnish food group’s strategy to expand the supply of frozen peas.
While Apetit said the purchase of Foodhills’ entire share capital is valued at 100 Swedish crowns ($10.56), it is repaying between 20 million and 30 million Swedish crowns in loans provided by the company’s previous owner, equivalent to a final transaction price of 60 million Swedish crowns.
The deal is expected to close on November 30 and is pending approval from the Swedish ISP, the authority for direct investments in Sweden, Apetit said in a statement today (October 9).
Apetit confirmed to Just food that Foodhills operates a production facility located in Bjuv, Sweden, and supplies customers in the food service sector primarily for the Swedish market.
Since 2018, Foodhills has made investments of more than SEK 200 million in the Bjuv production facility, according to the statement. The frozen pea producer posted net sales of SEK 167.8 million in 2024, but posted an operating loss of SEK 54.7 million.
The company has approximately 300 contracted farmers in the Skåne and Halland regions.
The acquisition advances two of Apetit’s strategic areas: strengthening its presence in Sweden and increasing the volume of frozen peas.
Esa Mäki, CEO of Apetit, said: “The acquisition strengthens Apetit’s role as a major Nordic producer of frozen peas and plant-based foods.
“Apetit’s frozen pea acreage and production capacity will grow significantly with the acquisition.
“According to our estimates, Apetit will produce more than 10% of frozen peas in Europe. The cultivation and production of frozen peas is the core of Apetit’s expertise.”
The general director added that the Nordic pea has a “unique flavor”, which makes it a “highly desired product worldwide.”
Mäki also said: “By growing strategically important frozen peas in both Finland and Sweden, we diversify the geographical area of pea cultivation and mitigate the risk of seasonal harvesting.”
“Finnish Apetit buys Swedish pea supplier Foodhills” was originally created and published by Just Food, a brand owned by GlobalData.
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