Valio to spin-off Valio Oddlygood® business operations – the aim is to accelerate international growth
Valio is spinning off the business operations of the plant-based Valio Oddlygood® products to Oddlygood Global Ltd. The company aims to accelerate growth by creating a network of partners. The partners could be, e.g., distributors in markets where Valio doesn’t have its own network. This would give Valio Oddlygood® products a faster track to various target markets. The spin-off also enables the core team to have the best possible focus on business development.
“People are increasingly interested in plant-based products, and changing global consumer trends are behind this. We see a lot of opportunities for Valio in the strongly growing market for plant-based products in Finland and abroad. Oddlygood Global Ltd is a launch that aligns with our new strategy aiming to expand Valio’s international business. We will now pursue this growth increasingly stronger with Oddlygood Global Ltd and international partners,” says Valio’s Tuomas Salusjärvi, Executive Vice President, Growth Businesses and R&D.
Oddlygood Global is seeking one or more partners who can bring distribution and sales networks as well as resources to accelerate international growth in various markets.
Oddlygood Global will be lead by CEO Niko Vuorenmaa, previously SVP, Valio Food business unit. Reetta Tikanmäki, previously Valio’s Category Manager, is appointed Chief Operational Officer. Petteri Leskinen, previously Valio’s SVP, Business Development, will head finance as Chief Financial Officer. A total of 6 individuals forming the business line will transfer to the company.
Strong expertise as a competitive advantage
Valio brought plant-based snacks and beverages to the market in 2018 under the Valio Oddlygood® brand, and the product portfolio has since expanded to the plant-based cheese alternative Oddlygood® Veggie products. Valio Oddlygood® products are currently exported to Sweden, the Baltic countries, Russia, and the United States, among others. Sales of Valio Oddlygood® products doubled from 2019 to 2020, and the goal is to further grow sales more forcefully.
“Our strengths include our comprehensive experience with food sector business operations and, together with Valio, high-quality product development and production know-how going back 116 years, ultramodern production technology, and premium raw materials like Finnish oats. Valio Oddlygood® products already have a strong foothold in Finland and Sweden. Growth with the support of a partnership network offers us a faster track than organic growth to markets where we don’t yet have our own sales and distribution network,” Niko Vuorenmaa says.
“Valio has world-class research and development expertise. In addition to milk products, we are able to apply this expertise broadly to many other raw ingredients. Spinning of Valio Oddlygood® business is one of the new operational models that we use to pursue more extensive commercial utilization of our expertise, and international growth,” says Valio’s CEO Annikka Hurme.
Valio’s research and development activities rank high on a global scale. Valio’s patent portfolio is extensive and the ability to innovate covers much more than just traditional milk processing activities. Valio utilizes its R&D capabilities full-scale to its whole portfolio. Valio has successfully capitalized on its deep understanding of the properties and interplay of different proteins, fats, carbohydrates and minerals to develop superior milk and vegetable based products.
Valio - The world’s most innovative dairy and food company
Valio’s mission is to create wellbeing and taste sensations in a responsible way. We make tasty products from milk and many other ingredients; we bring delightful tastes, variety and joy to the food table. We also carry out important roles in society: ensuring food security, enhancing public health and improving animal welfare are some examples of our impacts. In line with our mission, we are making life better. This is also the conclusion of the Finns who have chosen Valio as Finland’s most sustainable brand for seven consecutive years.
4,300 Finnish dairy farmers own Valio through cooperatives. We pay out all the profits to our milk producers through the milk price. We employ a total of 25,000 people at dairy farms. Valio has 4,000 professionals at work from different sectors and we listen to consumers with our more than 100 years of experience.
Nobel Laureate A.I. Virtanen’s legacy continues to live on with us. When he headed Valio’s laboratories, the concept of improving the wellbeing of people took root as our guiding principle. We turn science into products that make life better. Consumers in more than 60 countries enjoy Valio products, and we have 350 patents for our innovations around the world. We are Finland’s biggest food exporter and a trailblazer for the whole food industry. Valio’s sales in 2019 were EUR 1,787 million.