Valio has acquired Raisio’s plant protein business, including the Härkis and Beanit fava bean brands and related fixed assets.

The deal, valued at €7 million, includes the production equipment at Raisio’s plant protein factory in Kauhava, Finland. As part of the acquisition, 16 employees will transfer to Valio.

The acquisition strengthens Valio’s position in the plant-based protein market. The company has been expanding beyond dairy, with executive vice president Tuomas Salusjärvi stating that the future of food will involve a mix of plant-based, animal-based and cellular agriculture products.

Salusjärvi said: “The food system of the future will include plant-based and animal-based food, as well as food produced by cellular agriculture. All of these are needed to provide enough food for a globally growing population. This is the foundation of Valio’s strategy, which sees us growing from a dairy company into a food company."

"This business acquisition is one step on our path of growth. A strong and innovative product selection has been Valio’s foundation for 120 years. In addition to milk-based products, we as a food company are now also investing in growth in foods based on other raw materials."

Valio has previously invested in plant-based proteins, acquiring the Gold&Green business in 2022 and launching new products under the brand. The acquisition of Raisio’s plant protein business will allow Valio to further develop its product range and expand its production capacity.

Kimmo Luoma, Valio’s senior vice president, added: “This business acquisition will make us an even more significant developer and producer of plant-based protein products. The demand for these products will grow in the long term, and a great deal of growth potential still remains."

"In 2022, we acquired the Gold&Green business and, since then, we have been carrying out strong product development and renewed the brand.  Following successful product launches, sales in the last quarter of 2024 increased by about 50% from the previous quarter. With this acquisition, we are building our own production capacity. The production equipment of the Kauhava factory is just right for our needs and situation."

Valio's plant-based protein range already includes the Gold&Green brand, which offers ready-to-use plant protein products and raw materials for professional kitchens and the food industry. The company also produces MiFU protein products, made from Finnish milk and launched in 2016.

Operations related to the Härkis and Beanit brands will continue as usual for now. The acquisition is expected to be finalised in March, at which point the assets and employees will officially transfer to Valio.