On Tuesday 5 January, HKScan announced it was selling its 25% stake in the two slaughterhouse businesses to the main shareholder of Svensk Butikskött, looked after by managing director Thomas Östlund.
The so-called “structural harmonisation” has been carried out to help the Finnish meat company “sharpen” other core business areas in Sweden.
The core of HKScan’s business is in branded meat processing of beef, pork and lamb, and the divestment of the two Swedish companies is a move to focus the business on the bulk of its operations: branded meat processing.
HKScan had a “minority interest” in the two Swedish companies, according to Göran Holm, executive vice-president of HKScan’s consumer business department in Scandinavia.
‘Strengthen’ business
In a statement published on Tuesday 5 January, Göran Holm said: “Over the past few years we have endeavoured to simplify and increase the efficiency of our operations in Sweden. These divestments will further strengthen our focus on our core businesses.
“The deals will ensure that Svensk Butikskött retains a strong foothold as a local slaughterhouse operator in Gotland, which is important both to local producers and consumers.
“We intend to continue collaborating with Svensk Butikskött and will transfer our local animal sourcing agreements in Gotland to the company no later than the end of 2016,” Holm added.
HKScan had owned a stake in the two Swedish companies since 2010 and said the sale of its shares will have no bearing on the financial results of the company in the near future.
HKScan is one of the prominent meat players in the Nordic region. The Finland-based company produces and sells a range of beef, pork, poultry and lamb products, as well as processed meats and convenience foods. It exports to over 50 countries and employs nearly 8,000 staff.