Finnish food corporation Fazer has agreed to acquire Sweden-based oat milk company Trensums Food AB. Fazer will take over from the company’s current owner, Profura AB.
The acquisition will help Fazer achieve its goal of becoming a leading player in the Northern European plant-based market. Trensums is one of the continent’s leading oat milk producers and will significantly increase Fazer’s share of the market, as well as granting access to new markets.
Following approval from the Swedish Competition Authority, Trensums will become part of Fazer’s Lifestyle Foods Business Area, which has an emphasis on plant-based foods and particularly oat-based dairy alternatives.
Investing in the future of food
Fazer has been targeting the plant-based market for several years. In 2019, the company invested €40 million in a new production facility dedicated to plant-based foods, in response to growing consumer demand. Fazer has also invested in other plant-based companies, such as Finnish alt-protein startup Solar Foods.
“I am very pleased that Fazer, the Nordic food experience company with a long history, will be the new owner of Trensums Food AB. In Fazer we see a strong owner, who is good at oats and wants to invest in plant-based products. This creates good opportunities for Trensum’s continued development,” said Mikael Thörnkvist, CEO of Trensums’ current owner Profura AB.