Finnish food group, Apetit, plans to acquire Sweden’s Foodhills to expand in frozen peas. Purchase of Foodhills’ share capital at Skr100 ($10.56) includes repaying Skr20-30m SEK in loans. Deal expected to close by 30 November pending Swedish ISP approval. Foodhills operates one production plant in Bjuv, Sweden.

Foodhills invested over Skr200m in Bjuv plant since 2018, with net sales of Skr167.8m in 2024 but an operating loss of Skr54.7m. Supplied by 300 contract farmers in Skåne and Halland regions. Acquisition aligns with Apetit’s strategy to strengthen presence in Sweden and increase frozen pea volume.

Apetit’s CEO, Esa Mäki, sees the acquisition as a way to grow production capacity significantly and become a major frozen pea producer in Europe. Nordic pea’s unique flavor makes it a sought-after product globally. Cultivating peas in both Finland and Sweden helps diversify geographical area and mitigate harvest risks.

Read more at Yahoo Finance: Finland’s Apetit snaps up Swedish pea supplier Foodhills