HKScan enters into plant-based joint venture with Leivon Leipomo

By Aidan Fortune contact

- Last updated on GMT

HKScan enters into plant-based joint venture with Leivon Leipomo

Related tags: Finland, HKScan, plant-based

Finnish processor HKScan and bakery Leivon Leipomo Oy are to set up a joint venture with the aim of promoting the development and growth of the plant-based Boltsi product range.

The Boltsi product family developed by Leivon Leipomo won the innovation competition Suomalainen Menestysresepti 2019. Plant-based Boltsi oat-seed balls have established their retail position in Finland.

Leivon Leipomo will hold 51% and HKScan 49% of the joint venture Boltsi Oy, and Leivon Leipomo’s managing director Harri Jaakkola will be the managing director of the company. The products are manufactured in Finland, mainly at HKScan’s production units on the existing production lines, which also increases their utilisation rates.

HKScan’s CEO Tero Hemmilä said: “It is great to start collaborating with Leivon Leipomo, a traditional family business. Now, as partners, we will combine our expertise and promote the development and growth of the Boltsi product family.

“Partnership with Leivon Leipomo supports HKScan's strategic target to expand into new product categories and to grow into a versatile food company. I believe that HKScan can provide Leivon Leipomo with a strong commercial platform enabling the growth of the Boltsi product family primarily in Finland but possibly in other HKScan’s home markets as well.”

Leivon Leipomo Oy’s managing director Harri Jaakkola added: “We have been looking for a partner to advance the success story of our Boltsi product family, since Leivon Leipomo’s own resources are limited. HKScan’s commercial position both in Finland and in the company’s other home markets in the Baltic Sea region, as well as development resources and production capacity provide a very good basis for the development and growth of the Boltsi product family. I am very pleased that HKScan will join us as a partner to support the development and growth of the Boltsi product family.”

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