Lallemand GmbH, a Vienna based subsidiary of Canadian Lallemand Inc, acquired the shares of Finnish Yeast Ltd from Polttimo Companies Ltd on December 29, 2006.
The yeast production will continue at Finnish Yeast’s production facilities in Lahti, Finland. Yeast deliveries to bakeries will continue and the Finnish consumers will find the familiar yeast packages in the grocery stores as before.
The Managing Director of Finnish Yeast, Mr Pertti Heiskanen, is excited about the many possibilities that the new ownership brings. ”Finnish Yeast will continue to work in close co-operation with its customers, now supported by the expertise and experience of a leading international operator in the field of yeast and baking. We plan to introduce new products and solutions for industrial bakers as well as for home baking”, he says.
The Chairman of the Board of Polttimo Companies, Mr Harald Relander says: ”Polttimo will now focus on its main business area being malt and malted ingredients. Our decision to sell Finnish Yeast Ltd shares is based on our vision and belief that as a part of an international organisation Finnish Yeast will have a prosperous future”.
Rudi Kreuz, the Managing Direcor of Lallemand GmbH and Jean Chagnon, President and Chief Executive Officer of Lallemand Inc are very happy to have acquired this leading Finnish producer of yeasts with its modern state of the art plant in Lahti which services industrial customers and consumers thoughout Finland and in the St Petersburg area of Russia. ”We look forward to working with its experienced and very qualified management team and workforce adding our knowledge to theirs to find ways to better serve their markets but also to help our other markets and plants”.
Background information
Finnish Yeast Ltd is the only yeast producer in Finland. The factory, employing 18 persons, is located in Lahti, Finland and the main products are pressed yeast and yeast cream for bakeries and fresh and dry baker’s yeast for consumers.
Lallemand Inc. is a privately held Canadian company specializing in the development, production, and marketing of yeasts and bacteria. The company has over 1500 employees in its four major divisions: North American Bakers Yeast and Ingredients (based in Chicago, USA), European Yeast (Lallemand GmbH based in Vienna, Austria), South Africa (Anchor Yeast based in Johannesburg, RSA) and Specialty (based in Toulouse, France). The parent company is headquartered in Toronto with its main adminisrative located in Montreal, Canada. Its European Yeast division has operations in Austria, Germany, Slovakia, Poland, the Baltic States and now in Finland.