Lantmännen Cerealia divests its ready-to-eat business area including the Gooh brand
Lantmännen Cerealia focuses its operations on the grain value chain and divests its ready-to-eat food business to Atria Sweden. The transaction is expected to be approved by the relevant authorities later this spring.
Lantmännen Cerealia has signed an agreement to divest its ready-to-eat food business under the Gooh brand to Atria Sweden. The deal encompasses the entire business, as well as the Gooh brand. All staff currently working in the business area will be invited to join the transfer.
"Over the years, Gooh has developed the chilled ready meals category by focusing on quality and distribution. We have decided to divest the business area, in order to focus on our core, which is to create value from the grain value chain. In Atria Sweden, we see a competent and long-term owner with good opportunities to develop Gooh further," says Thomas Isaksson, Executive Vice President Lantmännen and Head of Cerealia Business Area.
"The acquisition fits perfectly with Atria Group's strategic goal of expanding in the convenience food segment and improves Atria Sweden's chances for profitable growth," says Jarmo Lindholm, Executive Vice President of Atria Sweden.
Gooh is a renowned brand with high market shares in a category that has seen an exciting development over the years. The business started on a small scale in the early 2000s, and has since then developed enormously. Today, Gooh serves about 5 million dishes annually through sales outlets throughout Sweden. The range consists of a mix of traditional Swedish home cooking, and flavors from other countries, such as Italian pasta dishes. The range has been developed continuously, but the foundation of chef-prepared meals with carefully selected ingredients remains. Production takes place in a commercial kitchen in Järna in Södermanland, south of Stockholm.
The transaction is planned to be carried out through transferring the business to a newly formed company, to which Atria Sweden will acquire all shares. The transaction is subject to regulatory approvals and is expected to be completed later in the spring. Until the transaction is completed, the business will remain with Lantmännen Cerealia.
For more information, please contact:
Emelie Bontesse de Filippis, Head of Communication, Lantmännen Cerealia
Tel: +46 10 556 98 21
E-mail: emelie.bontesse@lantmannen.com
Lantmännen's Press Office
Tel: +46 10 556 88 00
E-mail: press@lantmannen.com
About Lantmännen
Lantmännen is an agricultural cooperative and Northern Europe's leader in agriculture, machinery, bioenergy and food products. We are owned by 18,000 Swedish farmers, have 10,000 employees, operations in some 20 countries and an annual turnover of SEK 65 billion. Based on grain, we refine the resources of arable land for viable agriculture. Some of our best-known food brands are AXA, Bonjour, Kungsörnen, GoGreen, Gooh, FINN CRISP, Korvbrödsbagarn and Hatting. Our company is founded on knowledge and values that have been passed down for generations by our owners. Through research, development and operations throughout the value chain, we take responsibility together from field to fork. Read more on www.lantmannen.se.