Finnish plant-based product manufacturer Oddlygood has recently made a significant move in the plant-based food industry by acquiring the Nordic brand Planti. This strategic acquisition places Oddlygood at the forefront of two prominent dairy alternative categories: spoonable snacks in Sweden and cooking products in Finland.
Founded in 2018, Oddlygood has rapidly grown its presence in the industry. The company recently secured a retail partnership with Morrisons in the UK, while also seeing success of its product lineup of oat drinks and spoonable snacks in the American and European markets.
“Planti’s portfolio complements our existing offering and strengthens our market position, especially in spoonables and cooking”
In 2022, Oddlygood achieved a record turnover of €23.5 million, with projections pointing toward even greater profits this year.
CEO of Oddlygood, Niko Vuorenmaa emphasizes the significance of the Planti acquisition, highlighting: “Planti is our first acquisition and the next step on our growth journey. In the first half of this year, we delivered great momentum with +40% organic growth, compared to 2022, and growing significantly faster than the market. Planti’s portfolio complements our existing offering and strengthens our market position, especially in spoonables and cooking.”
In a twofold transaction, Oddlygood now owns Planti’s products, brand, and related intellectual property rights. Simultaneously, Valio, Oddlygood’s majority owner, has acquired Planti’s production facility in Turku, Finland, along with its employees. With this acquisition, Oddlygood claims it is now the second-largest player in the plant-based dairy alternatives market in Sweden and the third-largest in Finland.
Planti’s transition to Oddlygood
Previously under the ownership of the Norwegian Kavli Group, the Planti brand has now found a new home with Oddlygood. While the financial details of the transaction have not been disclosed, the deal does not result in immediate changes to the product range or production processes of either Oddlygood or Planti.
Kenneth Hamnes, CEO of Kavli Holding AS, expressed confidence in the strategic decision to sell Planti, stating: “To sell Planti is a strategic decision we have considered thoroughly, aiming to focus on other categories in our business. We have been waiting for the right match and buyer profile who has the capacity and ambition to develop Planti. We are happy that Oddlygood and Valio are coming aboard and wish the new owners the best of luck, allowing the company to focus on other business categories.”
