Paulig agrees sale of Risenta brand to Midsona

Finnish nutrient and beverage radical Paulig has sold its Risenta marque to Swedish user goods institution Midsona for Skr45m ($4.7m).

In a connection contiguous (31 March), Paulig said the merchantability is portion of its “strategy to sharpen focus” connected satellite foods and Tex Mex.

Lenita Ingelin, the SVP of Paulig's branded concern area, said: “Paulig’s maturation and results are chiefly driven by satellite foods and Tex Mex and this is wherever our ambition lies going forward.”

The disposal covers Risenta’s brand, intelligence property, the associated concern and connected accumulation lines, according to the statement.

Paulig added the woody does not impact transferring immoderate unit to Midsona.

The Risenta concern sells products successful Sweden, including seeds and kernels, flours and meal items. The marque has been owned by Paulig since 2015.

In a abstracted statement, Midsona said it “views the acquisition arsenic an accidental to further fortify its presumption arsenic 1 of Sweden’s starring companies wrong steadfast foods”.

Henrik Hjalmarsson, Midsona president and CEO, added: “Risenta is simply a marque that fits good into our level of well-established brands with beardown positions wrong steadfast foods connected the Nordic market.”

Midsona said the woody is forecast to assistance its EBIT borderline and net per share, portion adding astir Skr130m successful yearly revenue.

The companies are targeting 1 June to adjacent the transaction, which remains taxable to regulatory review.

Paulig has precocious been reshaping parts of its manufacturing footprint.

In January, Paulig said it planned to extremity accumulation astatine a spices works successful Mölndal, southbound of Gothenburg, and displacement operations to Estonia, citing higher input costs.

In July, it announced plans to put €12m (then $14.1m) to grow capableness astatine its Berga installation successful Barcelona, including the installation of a caller flour tortilla line, which the radical said “responds to the increasing planetary demand” for Tex-Mex products.

"Paulig agrees merchantability of Risenta marque to Midsona" was primitively created and published by Just Food, a GlobalData owned brand.

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