Finland's Valio is to acquire Raisio plc’s plant protein business, along with associated fixed assets and the fava bean brands Härkis and Beanit for €7 million.
The deal, expected to close in March 2025, will see the transfer of 16 employees as well as the acquisition of production equipment at the Kauhava factory.
Operations related to the Härkis and Beanit brands will continue as before, with Härkis products remaining available in stores, Valio added.
Rising Consumer Demand
In 2023, Raisio’s plant protein business generated net sales of €5.5 million. With the acquisition, Valio aims to strengthen its position plant-based protein products market.
The company’s portfolio already includes the Gold&Green range – offering ready-to-use plant protein products and raw materials for professional kitchens and the food industry – as well as MiFU protein products made from Finnish milk, launched in 2016.
In September 2024, the company announced an investment of approximately €70 million in modernising its production plant in Seinäjoki.
According to Valio’s executive vice president, Tuomas Salusjärvi, “The food system of the future will include plant-based and animal-based food, as well as food produced by cellular agriculture. All of these are needed to provide enough food for a globally growing population.
“This is the foundation of Valio’s strategy, which sees us growing from a dairy company into a food company. This business acquisition is one step on our path of growth.”
Senior vice president of Valio, Kimmo Luoma, added, “This business acquisition will make us an even more significant developer and producer of plant-based protein products.
“The demand for these products will grow in the long term, and a great deal of growth potential still remains.[...] With this acquisition, we are building our own production capacity. The production equipment of the Kauhava factory is just right for our needs and situation.”
