Finnish meat processor Atria has gained the approval of Swedish Competition and Consumer Authority to complete the €18m acquisition of poultry firm Lagerberg.
The competition authorities have approved the transaction without any conditions.
Atria expects the acquisition to be completed later this month and increase the annual net sales by around €30m.
The acquisition is intended to expand Atria's business in Sweden into white meat processing.
Atria has been interested in Lagerberg for a while now considering its 50 years of experience in white meat processing.
Poultry sales have increased by 7% in Sweden in 2015 and the company intends to tap the growing poultry market.
According to Atria, demand for Swedish-produced chicken has steadily increased over the years in the country.
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.
Lagerbergs is considered as the third largest supplier on the Swedish chicken market. In addition to its own chicken-rearing, the company is purchasing chickens from local producers. The company has 120 employees.
It claims that its chicken products carry the Swedish Poultry hallmark which means that consumers can trust that the chicken is hatched, raised and slaughtered in Sweden.
Image: Atria intends to expand its white meat processing business in Sweden. Photo: Courtesy of rakratchada torsap/FreeDigitalPhotos.net.
