Sweden: Scandi Standard to acquire Lagerbergs

Sweden: Scandi Standard to acquire Lagerbergs

Scandi Standard has announced it has signed an agreement to acquire Lagerbergs, the third largest producer of chicken in Sweden.

This announcement comes less than one month after the acquisition of Huttulan Kukko Oy’s chicken business in Finland and is indicative of Scandi Standard’s desire to strengthen its position in the Nordic region.

“I am very pleased to announce this proposed acquisition, securing for Scandi standard additional capacity in the Swedish market, which is growing. We believe there are significant synergies to be achieved”, commented Leif Bergvall Hansen, CEO of Scandi Standard.

The acquisition, which is subject to the approval of the Swedish competition authority, will have a cost of SEK 105 million ($ 36.5 million) on a debt free basis.

Source: Scandi Standard