Sastamala, Finland-based seafood company Kalaneuvos Group has been acquired by Nordic Fish.
Kalaneuvos is the largest producer of smoked fish in the Nordic countries, and Nordic Fish is the largest producer of rainbow trout in Finland and Sweden and the largest supplier of rainbow trout roe in the entire European Union. Both companies are family owned by the Hukkanen family, and Kalaneuvos was specifically owned Veijo Hukkanen and Toni Hukkanen.
“The acquisition supports and clarifies our companies’ growth strategy and our goal of becoming one of the largest producers of rainbow trout products in Northern Europe,” Veijo, who is also the chair of Nordic Fish's board of directors, said in a press release. “We are firm believers in the fish industry, as demand for fish products continues to grow globally because they are healthy, tasty, and have a low environmental impact.”
Nordic Fish has acquired 100 percent of the shares of Kalaneuvos, “thus expanding its activities into the fish processing industry,” the release said. The company said no Kalaneuvos Group employees will lose their jobs as a result of the transaction.
The new, larger company will be one of the largest trout companies in Europe's seafood industry, and the largest seafood industry operator in Finland.
“We are happy that Nordic Fish´s acquisition of Kalaneuvos is complete,” Nordic Fish CEO Toni Hukkanen said. “From now on, we will work together according to our values and strategy.”
The purchase comes roughly a month after the owners of both companies acquired Estonia-based fish farming and processing firm Heimon Kala.
“We want to consolidate the supply of Finnish fish feedstock and boost the export of fish products, which has developed well in recent years,” Veijo said in January 2023.
In 2019, Kalaneuvos invested EUR 28 million (USD 31 million) in an expansion of its processing facility in Sastamala, Finland, more than doubling its smoked-fish production capacity to 8,000 metric tons (MT). The facility now houses 10 smoking cabins for hot-smoked products and three cabins for cold-smoked products. It also features three filleting lines, one of which is fully-automated, capable of producing 12,000 MT of product annually. Overall, the Hukkanen family has invested roughly EUR 40 million (USD 42 million) in its businesses over the last three years.
“Most of the investments have been made with the intention of expanding the Sastamala factory and acquisitions,” the company said.
According to Toni, the combined turnover from the companies in 2022 will come in at more than EUR 160 million (USD 171 million).
“‘Nordic Fish also sees significant growth opportunities in fish products internationally,” Toni said. “Demand for fish is growing strongly, and we want to support a healthy and sustainable lifestyle.”
Photo by Cliff White/SeafoodSource
