Finnish food company Raisio is planning to invest nearly €45m in its production facility to develop and manufacture plant-based added-value products.
The investment is said to be in response to the growing demand for plant-based food products, especially in European markets.
Raisio president and CEO Pekka Kuusniemi said: “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.
“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.”
To be built in the company’s carbon-neutral industrial area, the production facility will increase Raisio’s production capacity.
Raisio will focus on added-value products, in which oats and a wide range of plant-based raw materials can be used.
When fully operational, the facility is expected to employ 30 to 35 people, some of whom will work in product development.
The first products made in the factory will be available in eco-friendly packages and are expected to be in stores in 2021.
By investing in its production facility, the company intends to strengthen its position as a specialist in plant-based food and supports growth in line with the company’s strategy.
For this expansion, the company will use its strong cash position, as well as cash flow.
Raisio noted that it will also establish a European business based on the company’s strong oat expertise and plant-based food.
