Raisio Oyj — M&A Activity 2025

Feb 13, 2025

Raisio to sell its plant protein business and Härkis® brand to Valio

Raisio to sell its plant protein business and Härkis® brand to Valio

Raisio plc, Inside information 13 February 2025 at 8:31 EET

The food company Raisio will sell its plant protein business and the Härkis® and
Beanit® brands, under which plant protein products have been marketed, to the
Finnish dairy and food company Valio. The price of the deal is EUR7million,
which will be paid to Raisio in cash upon the transfer of the business.

The companies have signed a purchase and sale agreement for the sale of the
plant protein business, the related fixed assets and the Härkis® and Beanit®
fava bean brands. The fixed assets include, among other things, the equipment of
the factory producing plant protein products in Kauhava.

The plant protein business employs 16people, who will be transferred to Valio as
existing employees as part of the deal. Raisio has been a lessee in the Kauhava
factory property and will sublease the property to Valio.

The business is expected to be transferred to the new owner during March 2025.

The net sales of the plant protein business were EUR4.5million in 2024 and
EUR5.5million in 2023. In 2024 and 2023, the comparable EBIT of the plant
protein business was negative: in 2024 the loss was EUR -2.6million and in 2023
EUR -3.2million. The sale of the business is not expected to have a significant
impact on the 2025 EBIT.

“Promoting the food transition with plant-based food and innovating new things
will continue to be key parts of Raisio's strategy and operations, even though
we have now decided to divest this business. We are currently in the final
stages of our strategy process and will present our future strategy in March and
in more detail at our Capital Markets Day planned for the first half of 2025,”
says Pasi Flinkman, CEO of Raisio.

"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,” says Valio's Executive Vice
President Tuomas Salusjärvi.

Raisio acquired Verso Food Oy and the Härkis® and Beanit® brands in the spring
of 2021. Verso Food was acquired to strengthen Raisio's strategy, which at the
time was under development and in which plant proteins became one of the key
areas.

Further information:
Pasi Flinkman, CEO, tel. +358 400 819 947
Mika Saarinen, CFO, tel. +358 40 072 6808

Raisio Plc
At Raisio, we make food from the heart, with the aim of bringing health to
ourselves and the Earth. We keep creating better plant-based and heart-healthy
products so that eating healthily and within the Earth's ecological capacity can
be a pleasure. Our strong brands, such as Benecol® and Elovena®, turn our
ambitions into reality. Through our responsibility work, we make the hard
choices for consumers, so that they can choose Raisio products with confidence.
We have around 350 healthy food colleagues in seven countries and export to more
than 40 markets around the world. Raisio's shares are listed on Nasdaq Helsinki
Ltd. www.raisio.com