Finnish food company Fazer will invest €40 million to build a new production facility in Lahti, Finland, which will produce a range of plant-based products.
The investment will take place in 2019-2020, creating 30 new jobs at Fazer in Lahti and supporting Fazer’s ambition to expand its presence in Northern Europe and selected international markets.
Fazer’s plant-based portfolio includes cereals, juices and oat products sold under its Alku, Yosa and Froosh brands.
Fazer claims that the investment will allow it to effectively respond to the growing demand for plant-based products from consumers, as well as strengthening Fazer’s position as a forerunner in value-added grain-based products.
Christoph Vitzthum, president and CEO of Fazer, said: “Plant-based products and solutions are strategic growth areas for Fazer. We want to be a forerunner in value-added grain-based products and we are investing in the development of new production technologies and solutions.
“We now have at hand an innovation which we believe will create interest also outside Finland and the Nordic countries, even globally.
“This investment contains several new and interesting initiatives which we will publish in March.”
Fazer’s current business strategy is to develop its business and product portfolio with a special focus on growth and consumer demand. Over the past three years, Fazer has invested approximately €195 million to support its transformation into ‘a modern sustainable food company’, including €136 million in Finland alone.
Last month, the company bolstered its plant-based product range by launching a new range of oat-based products under its Yosa brand, including oat drinks, oat spreads and overnight oats.
© FoodBev Media Ltd 2023
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