January 5, 2007

Finnish pork processor completes takeover of Swedish Meats

Finnish meat processor HK Ruokatalo has completed the take-over of Swedish Meats.

The new merger company would take on the name HK Scan, becoming the second largest Scandinavian meat conglomerate, having a turnover of about EUR 2.2 billion, with operations in eight countries.

HK Ruokatalo paid EUR113 million for Swedish Meats and would also take over its EUR 185 million debt.

Swedish Meats would now turn its business from a farmers' cooperative into a limited company called Scan AB, becoming a subsidiary of the Finnish company.

HK Ruokatalo is a company focusing on processed pork and poultry products.

Swedish Meats' holds the well known brands of Scan and Pärsons and is responsible for the most of the meat slaughtering in Sweden.