HKScan Estonian egg business divestiture finalized
Competition authority approval granted, enabling OU Koks Munatootmine to be sold to Dava Foods
The divesture sees Dava gain access to the Baltic markets. It takes over a farm specializing in the rearing of day old chicks, an egg production facility and an egg packing plant. OU Koks Munatootmine has an annual turnover of EUR6.7 million (US$7.1 million) and employs around 35 people.
With a turnover of EUR133 million, Dava Foods is the market leader in the Nordic region in the egg sector, and is active in the production, processing, packing and distribution of fresh eggs, as well as producing boiled and pasteurized egg products.
The sale of OU Koks Munatootmine was first announced late last year, but completion of the transaction was subject to approval by the competition authorities.
HKScan has also announced the sale by HKScan Finland and DanHatch AS of Denmark of HKScan Finland’s hatchery business and related real estate assets to DanHatch Finland, an associated business co-owned by the two companies. HKScan Finland has a 20 percent holding, with DanHatch owning the remaining 80 percent.