Hankkija now a wholly-owned subsidiary of the Danish Agro group
The Danish Agro group’s Finnish subsidiary, Hankkija Oy, which became part of the group in 2012, is now wholly-owned. SOK, the company’s former joint owners, decided to sell its remaining shares.
Danish Agro and Vestjyllands Andel therefore increased their shareholding in Hankkija from 60 to 75% in 2015 and took over the remaining 25% on 18 January 2016.
Danish Agro's Group CEO, Christian Junker, commented:
“We have been delighted with our partnership with SOK - a partnership based on mutual trust. Joint ownership of Hankkija ensured that expertise and know-how were not lost. We are of course pleased that we now own Hankkija 100% and are ready to develop the company further.”
The Finnish agriculture industry is under pressure, partly because of the Russian food embargo. Nevertheless, Junker sees plenty of opportunities on the Finnish market moving forwards.
“Integration of Hankkija into the group has been completely successful and we have streamlined the organisation to meet the needs of modern farming. A change of generation at management level is also now in place and our focus remains on efficiency. The company has been divided into more specialised and focused units, including one dedicated to machinery sales. The total number of branches in Finland has been brought down from 110 to 52 over the last three years whilst maintaining market share of around 50%. That gives us plenty of opportunity for the future,” says a satisfied Junker.
Hankkija is based in Hyvinkää in southern Finland, and turned over EUR 800 million in 2015, making a pre-tax profit of EUR 5,2 million.