Polarica completes the acquisition of Lapin Liha
The merger of Intera’s portfolio company Polarica and Finnish Lapin Liha Oy has been completed. The acquisition supports Polarica’s strategy to become the leading Nordic berry and game meat producer with sufficient scale and recourses to internationalize the sales of healthy food products derived from the Nordic nature.
Both companies produce game and berry products and the combined entity has operations Sweden, Finland, Poland and Russia. Combined pro forma revenue for the Group amounts to €110 million in 2011. The Group has approx 280 employees.
– Lapin Liha has a very strong market position in Finland and its products and competences are complementary to Polarica’s offering. We believe that through the merger two strong companies form an even stronger combined entity with possibility to grow internationally, says Lapin Liha’s CEO Jukka Kristo.
Intera, who continues as the majority owner of the Group also after the transaction, sees plenty of future growth potential especially in the Nordic market of game products but also growth outside the Nordic region is a clear goal for the future. The combined Group is able to make the necessary investments to increase the value-add of the products as well as to invest more heavily in sales and marketing.
– The new Group has significant possibilities to develop the marketing of healthy Nordic food products internationally. Also the position of reindeer meat in the environmentally conscious Swedish and Finnish retail markets can be further improved and our berry products have plenty of international sales potential, says Martin Grotenfelt, partner of Intera and board member of Polarica
Intera Partners Oy
+358 50 2145
Polarica AB was founded in 1972 and is today one of Europe’s leading producers of wild berries, garden berries and game meat. Polarica’s products are sold to retail, food industry, HoReCa and pharmaceutical customers with own and private label brands.