Geia Food is expanding its footprint in the Nordics with the acquisition of Topfoods Finland and TFR Topfoods Retailing.
Established in Finland in 2008, Topfoods supplies quality foodstuffs to the F&B industry, including the retail channel and professional kitchens.
Group CEO of Geia Food, Claus Ravnsbo, said: “Through [Topfoods’] highly innovative approach to product development in close cooperation with customers and manufacturers, the company has established itself as a reliable supplier of quality products. We are very impressed by the company’s development and see many opportunities to grow the business further in the coming years by putting Geia’s supplier portfolio into play in the Finnish market.”
He added: “We want to continue to expand our position within the retail market, but at the same time we see interesting opportunities within the foodservice and industrial markets, where we are already active in Denmark, Norway and Sweden. With the acquisition of Topfoods, we will have access to local purchasing, sales and product development capabilities, which will create a fantastic foundation for our further expansion in the Finnish market.”
Topfoods’ founders Janne Rantala and Juha Mäkelä will continue as partners in the new structure and will be responsible for the day-to-day running of the company.
Rantala, who is also CEO of Topfoods, commented: “The food sector is rapidly evolving which requires us to professionalise further. We see Geia Food as a highly professional player in the Nordic market, which can support our development in the coming years. Both companies are innovative and share a passion for food, which is why we look forward to continuing our exciting growth journey with Geia in the years to come.”
The completion of the transaction is subject to final approval from the Finnish competition authorities. Terms of the deal were not disclosed.
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