Finnish food company Raisio is investing €45 million in a new production facility focused on developing and manufacturing plant-based, value-added food products.
With the investment, Raisio said it is responding to the strong growth in demand for plant-based food, particularly in Europe.
The Benecol maker has also announced plans to establish a European business based on its “strong oat expertise and plant-based food”.
The new production facility will be built at the company’s industrial area in Raisio, in south-western Finland. At full capacity, the factory will employ 30 to 35 people, some of whom will work on new product development. Raisio estimates that the first products made in the new factory will be available in stores during 2021.
At the site, the company said its focus will be on added-value products in which oats and a variety of plant-based raw materials can be used. The plant will be able to be expanded and modified as necessary.
“This investment is the biggest one in organic growth for Raisio in decades and one of the most robust in the Finnish food sector lately,” said Raisio CEO Pekka Kuusniemi.
“The development of the market for responsibly produced, plant-based food is only beginning. Inspired by consumer insight, our special expertise and strong brands, we will develop new plant-based products.”
Raisio said it is continuing to invest in the growth of its cholesterol-lowering Benecol brand. The firm also owns brands such as Provena oats and Torino pasta.
In 2017, the company sold its confectionery business, which included the Poppets and Fox’s brands, to Valeo Foods Group for €100 million.
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