Finnish meat and poultry company Atria has acquired the entire share capital of Domretor Oy, a contract manufacturer in the food industry located in Kauhava, Finland..
The transaction was finalized on September 30 and the ownership of Domretor was transferred to Atria as of October 1. Domretor Oy has been an associated company of Atria since 2013, when Atria acquired a 24.9 percent stake in Domretor.
Domretor started operations in 1999 and is a contract manufacturer of high-quality convenience food products and semi-finished products.
“With the acquisition, Atria will further strengthen its position in the retail convenience food selections and in the market for foodservice products. Domretor will continue to operate independently as its own company and now Domretor has better opportunities to utilize all of Atria's customer channels. We have been very satisfied with the long-term cooperation with Domretor, where the flexible operating method and expertise of a small player have been able to be utilized effectively,” Mika Ala-Fossi, managing director of Atria Finland, said in a press release.
“Atria's customer channels and the support of a large company strengthen Domretor's position in the market. It is important to us that the company's operations continue and that jobs are maintained in Kauhava,” added Åsa Alanko, managing director of Domretor Oy.
The parties have agreed not to disclose the financial details of the acquisition. The purchase price does not have a significant effect on Atria's financial position or result, the publicly-traded Atria stated in its release.
Domretor Oy's production plant is located in Kauhava and the company employs 70 people on a permanent basis and about 40 seasonal workers.
Atria is the second largest poultry company in Finland and the 43rd largest poultry company in Europe. According to the WATTPoultry.com Top Companies Database, the company slaughters 43 million broilers annually. The company also has operations in Sweden, Denmark and Russia.