Fazer: completes takeover of Lantmännen Färskbröd

Helsinki / FI. (fg) Finnish Fazer Group in October acquired the Swedish bakery company Lantmännen Färskbröd and thereby became second-largest in the Swedish bakery market. Now Fazer Bageri completed the takeover after receiving approval from the Swedish Competition Authority. The Swedish Competition Authority has decided to leave Fazer Bageri´s acquisition of Lantmännen Färskbröd in Sweden without action. The acquisition will take place immediately, the Swedish Lantmännen Group said in a press release: There will still be two strong competing players at the national level after the acquisition: Pågen and Polar. Thus the Competition Authority has established that the current level of company concentration will not hinder the development of effective competition in Sweden. As part of its strategy to create a focused and profitable company, Lantmännen decided in the fall to sell its fresh bread business in Sweden. «The former Lantmännen fresh bread business has now come into the right hands: those of Fazer, which will continue to emphasize the bakery operation», said Lantmännen President and CEO Per Strömberg in Stockholm. «I am delighted that the response to the deal has been so positive, at both Fazer Bageri and Lantmännen Färskbröd, and that now we can begin integrating the companies and continue to build one of Sweden´s leading bakery companies», said Fazer Bageri CEO Per Sandberg (complete release).