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HKFoods has been informed that the Danish Competition Authority has approved the arrangement announced in May 2024 whereby HKFoods sells its operations in Denmark.
HKFoods and Plukon Food Group B.V., the acquirer of the business, intend to complete the transaction by the end of October 2024.
On 2 May 2024, HKFoods announced that it had signed an agreement to sell its Danish business to Plukon Food Group B.V. from the Netherlands.
Following the transaction, HKFoods' ownership of its Danish business will end. The business and personnel of HKFoods’ Danish subsidiary will be transferred to the new owner upon the closing of the transaction.
“The sale of the Danish business will continue to strengthen the company's balance sheet and enhance our ability to better focus on the businesses that remain with us. After the Danish business divestment, HKFoods will be a listed company with a strong Finnish base but still with an international presence. We will now focus on improving the competitiveness of our core business and the profitability of our operations and continue to implement our long-term strategy,” says Juha Ruohola, CEO at HKFoods.
HKFoods’ Danish production units are based in Vinderup and Skovgaard. The company’s consumer brand in Denmark is Rose. In 2023, the Danish business had net sales of EUR 230 million, comparable EBIT of EUR 3.3 million and an average of around 680 employees. HKFoods has operated in Denmark since 2010.
15 October 2024 - HKFoods
