Meat processor Atria has received approval from the Finnish Competition and Consumer Authority to acquire Kaivon Liha Kaunismaa.
In June, Atria announced that it would purchase 70% stake in Kaivon Liha to expand its business in Finland.
The company said that the Finnish competition watchdog’s approval to the transaction does not include any terms or conditions.
The acquisition is expected to be finalised and purchase price confirmed during October 2016.
Kaivon Liha, which focuses on the processing and wholesale of beef, mainly serves fast-food chains and other food service customers.
It has a strong market position in Finland as a manufacturer of high-quality hamburger and kebab products.
The product range of Kaivon Liha is expected to complement Atria's product range in beef products.
The acquisition is estimated to boost Atria’s sales by about €40m annually. Kaivon Liha production plant is located in Turku, Finland and has about 50 employees.
In April, Atria gained the approval of Swedish Competition and Consumer Authority to complete the €18m acquisition of poultry firm Lagerberg.
Lagerbergs is regarded as the third largest supplier on the Swedish chicken market. Apart from owing a chicken-rearing facility, the company purchases chickens from local producers.
Atria's presence extends across Nordic countries, Russia and the Baltic region, with experience stretching over 110 years. The group employs an average of 4,270 personnel.
The group is divided into four business areas: Atria Finland, Atria Scandinavia, Atria Russia and Atria Baltic. The company's customer groups include consumer goods retailers, food service customers and the food industry.
