Lantmännen Cerealia: divests its ready-to-eat business

Stockholm / SE. (lg) Sweden’s Lantmännen Cerealia focuses its operations on the grain value chain and divests its ready-to-eat food business to Atria Sweden. The transaction is expected to be approved by the relevant authorities later this spring. Lantmännen Cerealia has signed an agreement to divest its ready-to-eat food business under the Gooh brand to Atria Sweden. The deal encompasses the entire business, as well as the Gooh brand. All staff currently working in the business area will be invited to join the transfer.

«Gooh has developed the chilled ready meals category by focusing on quality and distribution. We have decided to divest the business area, in order to focus on our core, the grain value chain. In Atria Sweden, we see a competent and long-term owner with good opportunities to develop Gooh further,» says Thomas Isaksson, Executive Vice President (EVP) Lantmännen and Head of Cerealia Business Area. «The acquisition fits perfectly with Atria Group’s strategic goal of expanding in the convenience food segment and improves Atria Sweden’s chances for profitable growth,» says Jarmo Lindholm, EVP of Atria Sweden.

Gooh is a renowned brand with high market shares in a category that has seen an exciting development over the years. The business started on a small scale in the early 2000s, and has since then developed enormously. Today, Gooh serves about 5 million dishes annually through sales outlets throughout Sweden. The range consists of a mix of traditional Swedish home cooking, and flavors from other countries. The range has been developed continuously, but the foundation of chef-prepared meals with carefully selected ingredients remains. Production takes place in a commercial kitchen south of Stockholm.

The transaction is planned to be carried out through transferring the business to a newly formed company, to which Atria Sweden will acquire all shares. The transaction is subject to regulatory approvals and is expected to be completed in spring. Until then, the business will remain with Lantmännen Cerealia.