Scandi Standard completes the strategic acquisition in Lithuania
On 13 August 2024, Scandi Standard AB (publ) (“Scandi Standard”) announced that it had agreed to acquire an integrated state-of-the-art poultry processor in Lithuania.
The closing conditions have now been satisfied and Scandi Standard has completed the acquisition. Scandi Standard has made all preparations and actions necessary for commencing the operations during the coming weeks and having an expected initial annual throughput of 20-25 ktonnes grill weight (GW) from 2025.
Jonas Tunestål, CEO of Scandi Standard, says “This deal is a significant step in the strengthening of Scandi Standard’s overall business and a catalyst to reaching our financial targets. In addition to having the best prospect for acting as a competitive, high-quality, supplier in its own right, it will allow us to better service the most price-sensitive segments in our home markets and represent a cost-competitive supplier meeting the strict raw material criteria of our Ready-to-eat activities.”
For more information about the acquisition, please see Scandi Standard’s press release about the transaction that was announced on 13 August 2024.
For further comments, please contact:
Jonas Tunestål, Managing Director and CEO
Fredrik Sylwan, Group CFO: +46706422 304
Henrik Heiberg, Head of M&A, Financing & IR: +47 917 47 724
About Scandi Standard
Scandi Standard is the leading producer of chicken-based food products in the Nordic region and Ireland. The company produces, markets and sells ready to eat, chilled and frozen products under the well-known brands Kronfågel, Danpo, Den Stolte Hane, Manor Farm and Naapurin Maalaiskana. Eggs are also produced and sold in Norway. We are approximately 3,200 employees with annual sales of more than SEK 13 billion. For more information, please visit www.scandistandard.com.
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