Oct 16 - The sale of Raisio's margarine business to Bunge has been completed. The acquisition price was EUR 80 million.
The transaction was conditional on the approval of the Polish competition authorities, which was granted on 8 October 2009.
The transaction encompassed the margarine business in Finland and Poland. Raisio will continue to sell margarine as a distributor of Bunge in Finland, Sweden and Estonia. For Raisio, Bunge will be a new and significant Benecol partner, with whom to develop the Benecol brand and functional foods. The Benecol brand and patents will remain in Raisio’s ownership.
Matti Rihko, CEO of Raisio: "The divestment of the margarine business gives Raisio a clearer direction, putting the focus on grain-based products. As one of Europe’s most innovative grain companies, Raisio is in an extremely good position to develop as a company that introduces new products on the market based on consumer and customer needs."