Lantmännen Unibake: Global expansion begins in Finland

Helsinki / FI. (prn) Lantmännen Unibake, a leading European supplier of frozen bread products, will expand globally in the coming year and now is taking the first step with the acquisition of the Finnish fast-food bakery Baco Oy. Lantmännen Unibake, business division of the Scandinavian Lantmännen Group, says it plans to increase export to the neighbouring Baltic countries and Russia.

«We have been looking at Baco for some time now because it is a skilled fast food bakery and it has a strong market position in both Finland and amongst its eastern neighbours in the Baltic States and Russia», says Bent Pultz Larsen, CEO for Lantmännen Unibake, which has 4.500 employees worldwide and a turnover of 730 million EUR. «Latmannen Unibake now has a solid foothold across all of Scandinavia which we can use to roll out our international growth strategy in the coming months».

Since its founding in 1990 Baco has been owned by Finnish Primula Group and developed into a modern industrial bakery. Baco´s main products are varieties of hamburger and hotdog buns for customers in the Food Service sector. Baco has been recognized for its high standards for both food quality and the environment, and has achieved all relevant ISO certifications in these areas.

«In recent years we have grown strongly in neighbouring countries especially in the east and Baltics», says Juha Valkamo, CEO of Primula. «The next step for us would have been to build a new bakery with more capacity to serve these new markets. The financing of this investment programme and the business risks evolving are not suitable for our kind of family business. With funds arising from this disinvestment, we will strengthen our main bakery and restaurant business and look for other investment possibilities».

Lantmännen Unibake has had a presence in Finland for almost ten years via their sales company, Oy Lantmännen Unibake AB. The sales company and Baco Oy will now be integrated under the name Lantmännen Unibake Finland. In the future, Lantmännen Unibake will be able to offer customers a wide assortment of products from both companies which, in addition to breads, consist of Danish pastry and croissants.

Finland is the eigth market worldwide in which Lantmännen Unibake has established its own production facilities.

«In the coming year, we will be considering further acquisitions of this kind that can help bring Lantmännen Unibake closer to the markets we think are strategically interesting and that can add value for our customers», says Larsen. «It is our goal to be entrepreneurial, to provide an even broader range of bread products and to develop a global bakery concern that will make our employees proud».

About: Lantmännen Unibake has over 4.500 employees in 19 different countries and operates 30 bakeries worldwide. Lantmännen Unibake is the leading bakery group in Europe within frozen bakery products. The company is market leader in the Scandinavian market and has strong market positions in Germany, Poland, Belgium and Russia. Furthermore, the company has sales companies in the USA, Canada, Spain, France, Japan, Korea, Australia, the Baltic States and UK (associated company) as well as in several of the new Eastern European EU countries.

Baco Oy was founded in 1990 in Vantaa and is part of Primula Group. The company has developed into a modern industrial bakery specializing in varieties of fast-food products like hamburger and hotdog buns. Baco has a strong profile for its commitment to quality and environmental standards. The facility is certified by both ISO 9001 (quality) and 14001 (environment) standards and has received recognition for its sustainability efforts with the environment. Baco has 38 employees and yearly revenues of 12,5 million EUR. Primula Group has 250 employees and yearly revenues of 36,5 million EUR. Family business Primula is celebrating its 100th year anniversary this year.