Geia Food buys Topfoods in Finland
With the acquisition of the companies Topfoods Finland OY and TFR Topfoods Retailing OY, hereinafter Topfoods, Geia Food is expanding its footprint in the Nordics and expands on the Finnish foodservice and industrial product market.
Group CEO of Geia Food, Claus Ravnsbo says:
“Topfoods is an exiting and well-run company with passionate employees and strong specialist knowledge. Through its 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 on the Finnish market.”
Topfoods has a annual turnover of approximately 30 million EUR and employs a total of 15 employees. The company was established in 2008 by Janne Rantala and Juha Mäkelä and on the customer side you will find several Finnish retail chains, foodservice and industrial customers.
“Geia Food has been present on the Finnish market for a number of years where our sales focus has been on the retail chains. 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 both Denmark, Norway and Sweden. With the acquisition of Topfoods, we will have access to local purchasing, sales and product development competetencies, which will create a fantastic foundation for our further expansion on the Finnish market.”
The companys’ founders Janne Rantala and Juha Mäkelä will continue as partners in the new structure where they will be responsible for the day-to-day running of the company.
Janne Rantala, CEO of Topfoods, says:
“I am incredibly proud of Topfood’s development since its establishment, where we have created a fantastic company thanks to all our loyal and skilled employees. The food sector is rapidly evolving which requires us to professionalize further. We see Geia Food as a highly professional player in the Nordic market who 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 and continue to spread our slogan: Because we love food.”
The completion of the transaction is subject to final approval from the Finnish competition authorities.
For further information, please contact:
Claus Ravnsbo, Group CEO, Geia Food, tel. +45 29 99 18 21
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