Increased stake in Finnish agribusiness group
Danish Agro and Vestjyllands Andel have increased their shareholding from 60% to 75% in their jointly-owned Finnish agribusiness group Hankkija Oy.
A deal has also been signed for acquisition of the remaining 25% of shares in January 2016 from Finnish food group SOK, which sold the first 60% tranche followed by a further 15% to the two partners.
Danish Agro's CEO, Christian Junker, commented:
- We enjoy an excellent and constructive partnership with SOK. Their continued part-ownership of Hankkija has ensured smooth, efficient integration into the Danish Agro group.
- It has always been our intention that Danish Agro and Vestjyllands Andel would gain full ownership of Hankkija Oy. That's why we are now delighted to be able to take the next step in the process. We have to say that our relationship with SOK has meant smooth succession, during which we have had plenty of opportunity to get to know the Finnish culture."
Hankkija Oy employs about 900, turns over around EUR 1 billion and has a market share in Finland of 50%. 70 branches throughout the country and 8 large regional machinery centres make Hankkija a key partner for Finnish agriculture.
Hankkija trades in grains, feed mixes, ingredients, seeds, plant protection, fertiliser, premix and mineral mixes. The company also has extensive machinery sales, and represents leading brands such as John Deere, Amazone, Krone, Väderstad and others. Finally, it runs a number of agrimarket shops for professional farmers, smallholders and outdoor enthusiasts, with garden centres attached.