Lantmannen has agreed to acquire all the remaining shares, it does not already own in Finland-based thin crisp producer Vaasan, from Lion Capital for an undisclosed amount.
The acquisition is in line with Lantmannen's strategy to enhance its position in Northern Europe within its international bakery operations in Lantmannen Unibake.
Vaasan employs 2,745 people and offers bakery products in Northern Europe. The company offers fresh bakery products, such as thin crisp and crisp bread.
Headquartered in Espoo, Vaasan generated around €415m in net sales during the year 2013.
Commenting on the acquisition, Vaasan CEO Esa Rautalinko said: "Through this acquisition we join a leading Nordic company within our own industry and our abilities to serve our customers and consumers will further improve.
"The acquisition also means increased possibilities for international development and new and exciting opportunities for Lantmannen's and VAASAN's employees and leaders. This acquisition means a new phase for both companies."
The transaction, which is subject to certain regulatory approvals, is expected to be completed in mid-2015.
Upon completion of the deal, Vaasan will become a part of Lantmannen Unibake.
Image: Vaasan offers fresh bakery products, such as thin crisp and crisp bread. Photo: courtesy of twobee / freedigitalphotos.net.
