Swedish agri-food team Lantm ännen has actually raised its risk in neighborhood firm SimSuFood S to a bulk shareholding.
SimSuFood S, established in 2019, is experts in completely dry veggie items. Lantm ännen initially bought the firm in 2021. It has actually currently taken its setting in SimSuFood S to “just over 50%” from around 25%.
According to Lars-Gunnar Edh, an executive vice head of state at Lantm ännen, the action fits with the firm’s “existing investments in plant-based ingredients and strengthening Sweden’s food supply”.
Explaining the reasoning for the raised financial investment, a Lantm ännen agent informed Just Food: “Growth in dry vegetable products continues to be strong, both in Sweden and the rest of Europe and we see an opportunity to grow and broaden the business together in the coming years.”
In its statement, Lantmännen said SimSuFoodS aims to “simplify the value chain” from farming resources to complete items.
The company’s products are combined with water, cooking oil and spices to prepare dishes such as steaks, strips, and falafel.
SimSuFoodS products are primarily aimed at commercial kitchens and the public sector, offering “long” shelf life and space efficiency. It also sells products consumers, with a pack for hikers and a “crisis box” available online.
The Lantmännen spokesperson added: “Increased attention to national food preparedness and growing demand for both emergency rationing meals and aid shipments of food are all factoring into the decision to continue to invest in SimSuFoodS.”
The company operates its headquarters and production facility at a Lantmännen site in Kimstad, near Norrköping.
The remaining shares in SimSuFoodS are held by the company’s two founders, Andreas Gundberg and Niklas Hellsing.
While SimSuFoodS’ financial performance were not disclosed, Lantmännen is focused on its potential.
“As it is a start-up, we are more inclined to look at the potential and the promising future ahead,” the spokesperson said.
Addressing the possibility of acquiring full ownership, the Lantmännen spokesperson added: “As of now, our joint focus is on the company’s exciting growth journey, rather than the shares.”
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