Atria will buy operations from Saarioinen, a privately owned Finnish food manufacturer, which has strong bonds with primary producers in Finland. It has been claimed the agreement will increase Atria’s cost-efficiency in its meat procurement, slaughtering and cutting operations.
The company said it would keep on the 400 members of staff involved in the buyout and expected turnover to grow by €70m a year. It added: “The personnel of Saarioinen’s procurement, slaughtering and cutting operations will move to Atria as continuing employees.”
The preliminary agreement stated that Atria will gain ownership of poultry production machinery and equipment, along with a poultry production factory in Sahalahti, Kangasala, among other operations.
It is expected the deal will close, at the latest, in the first quarter of 2014. The deal is also subject to the approval of the Finnish Competition and Consumer Authority.