Danish Agro aquire Finnish agribusiness KYAG
Danish Agro and Vestjyllands Andel acquire agribusiness company in Finland.
Danish Agro: Press release.
Danish Agro and Vestjyllands Andel have signed a deal via their Finnish subsidiary Hankkija Oy to acquire agribusiness specialist Kymenlaakson Agrimarket Oy (KYAG) as of 1 January 2015. KYAG is based in south-eastern Finland, and already has integrated collaboration with Hankkija as a franchise holder for the Hankkija group’s Agrimarket shops.
- KYAG and Hankkija already enjoy a high level of collaboration, and we are therefore delighted that we could agree with the owners on acquisition. KYAG has a strong regional presence in Finland within agribusiness, and we are certain that we can offer even more high quality products and services to farmers in that area, says the CEO of Danish Agro, Christian Junker. He adds:
- To date, KYAG has handled traditional agribusiness such as the purchase of grain, sales of fertiliser, plant protection, seed etc., whilst Hankkija has sold tractors, combine harvesters, spare parts and feed mixes in the same area. We can now merge such activities into a single company with one organisation, realising a whole range of synergies, he says.
- We strongly believe that the acquisition will not only strengthen Hankkija, but also the entire group’s competitiveness – and that will be to the benefit of the group and its owners. We look forward to welcoming KYAG’s personnel to Hankkija, concludes Junker.
KYAG has an annual turnover of EUR 35 million and its head office is located in Kouvola, 150 kilometres northeast of Helsinki.
The acquisition is awaiting final approval from the Finnish competition authorities.