Atria Given Go-ahead to Buy Saarioinen11 February 2014
FINLAND - The Finnish Competition and Consumer Authority has given the go-ahead to the acquisition Saarioinen Oy by meat processor Atria.
The deal between Atria and Saarioinen was due to be finalised by the end of last month.
The agreement between Atria Plc and Saarioinen Oy for Atria to acquire Saarioinen's procurement, slaughtering and cutting operations for beef, pork and chicken was announced in the middle of last year.
The purchase price is approximately €30 million and will be paid in ash. The operations covered by the deal will be integrated into Atria starting from this month..
The personnel of Saarioinen's procurement, slaughtering and cutting operations will move to Atria as continuing employees, and Atria will continue its industrial operations in Jyväskylä and Sahalahti.
The operations covered by the deal employ 400 people in average. Atria's net sales are expected to grow by about €70 million annually.
TheMeatSite News Desk