Atria to buy majority stake in Kaivon Liha

A financial bulletin sent by Atria has outlined the company’s intention to buy a 70% stake in the Turku-based beef processor Kaivon Liha Kaunismaa Oy – commonly known as Kaivon Liha.

The deal is estimated to increase Atria’s sales by €40m ($45.2m) per year and the company expects the deal to be completed during the third quarter of 2016.

This announcement comes hot on the heels of Atria confirming that a multi-million investment at its Nurmo pig​ cutting plant in Finland will result in its workforce being reduced.​

Kaivon Liha currently employs 50 staff at its beef factory. Its customers largely come from Finland’s fast-food and foodservice industries. Not much of a surprise considering its core operation is the manufacture and wholesale of burgers and kebabs.

Atria described the company as one that has “a strong market position in Finland​” and said the range of meat items Kaivon Liha prepares will “complement Atria’s product range in beef products.​”
The deal still needs approval from the Finnish Competition and Consumer Authority body.

Neither Atria nor Kaivon Liha were available to comment at the time of writing.