Global food company Paulig Group has acquired a major stake of 51% in Finland-based Gold&Green Foods for an undisclosed amount.
Gold&Green Foods is the manufacturer of pulled oats, a food innovation product.
The partnership between the two companies is said to have been forged to meet the high demand of pulled oats in Finland.
An agreement in this regard was signed on 31 August this year.
Under the partnership agreement, both the companies will work together in accelerating the pulled oats production while also commercializing the innovation product in the global market.
Paulig Group CEO Jaana Tuominen said: “People are more and more conscious of their eating habits. We are convinced that the popularity of the pulled oats will only increase.”
Following the acquisition, Gold&Green Foods will retain its rights of being an entrepreneur-driven and independent unit.
The pulled oats product invented by it is claimed to be a protein-based meat alternative made from oats, peas and faba beans through shearing.
According to the company, it has 30% protein content and has the potential of matching meat products in multiple aspects like nutritional value, mouthfeel, texture as well as flavour.
Gold&Green Foods managing director Maija Itkonen says that the partnership with Paulig gives them the resources and competence to boost the production of pulled oats domestically and internationally.
Itkonen also said: “We have more than doubled the capacity in three months and the demand has increased in line with this. At its heart Gold&Green Foods is a technology company that develops innovative products based on the research data produced by its team and with the help of user-oriented design processes.
“Paulig appreciates our approach and believes in the modern innovation process. This deal helps us speed up the production, so that our experts can also focus on the development work.”
