Finnish food company Fazer will invest €30 million in its oat milling business, as it aims to meet the growing demand for oats and strengthen its position in Northern Europe.
The investment will be used to build two new mills, which will double the current oat milling capacity of its facilities in Lahti, Finland and Lidköping, Sweden.
Established in 1971, Fazer’s current facility in Lahti produces oat ingredients such as oat beta-glucan, oat protein and oat oil, and is reportedly the largest mill in Finland.
By investing in healthy and sustainable oats, Fazer continues to executive its growth strategy that focuses on innovation and sustainable solutions. With its expansion, Fazer intends to become the leading plant-based player in Northern Europe.
“Today’s conscious consumers value convenience and well-being, and Fazer’s growth is based on in-depth consumer insights turned into innovative products and meaningful food experiences. The superfood oats are booming world-wide and Fazer will leverage its knowledge in oats further,” says Christoph Vitzthum, president and CEO of Fazer Group.
Vitzthum added: “Milling expertise and research and development related to oats will, in the future, become even more essential parts of Fazer’s strategical objectives. Doubling the capacity in both mills will also open for new employment opportunities. There is a fast-growing consumer demand for nutritious plant-based food produced from locally grown raw materials.”
Earlier this year, Fazer announced its plans to build a €10.7 million facility in Finland capable of producing xylitol from oat hulls, followed by the acquisition of Kaslink, a Finland-based producer of premium Scandinavian food and drink products such as oat drinks.
According to Fazer, the company will continue to develop its research, development and innovation work in oats and oat ingredients.
© FoodBev Media Ltd 2020
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