FINLAND – Geia Food is amplifying its presence in the Nordics with the acquisition of Topfoods Finland and TFR Topfoods Retailing.
Geia Food is a Denmark-based food service manufacturer owned by London-based private equity firm Triton Partners.
Group CEO of Geia Food, Claus Ravnsbo said: “Topfoods is an exciting and well-run company with passionate employees and strong specialist knowledge. The company has established itself as a reliable supplier of quality products through its highly innovative approach to product development in close cooperation with customers and manufacturers.”
“We are very impressed by the company’s development and see many opportunities to grow the business further in the coming years by putting Geia’s supplier portfolio into play on the Finnish market.”
Topfoods was established in 2008 by Janne Rantala and Juha Mäkelä. The company has an annual turnover of approximately 30 million EUR and employs a total of 15 employees.
With the acquisition of Topfoods, Ravnsbo said Geia Foods will have access to local purchasing, sales, and product development competencies, which will create a fantastic foundation for our further expansion in the Finnish market.
Janne Rantala and Juha Mäkelä will continue as partners in the new structure and will be responsible for the day-to-day running of the company.
Rantala commented that the food sector is rapidly evolving, which requires the stakeholders to professionalize further.
“We see Geia Food as a highly professional player in the Nordic market, which can support our development in the coming years. Both companies are innovative and share a passion for food, which is why we look forward to continuing our exciting growth journey with Geia, in the years to come,” he underscored.
Ravnsbo highlighted that Geia Food wants to continue to expand its position within the retail market, but at the same time, the company sees interesting opportunities within the food service and industrial markets, where it is already active in Denmark, Norway, and Sweden.
Statista projects the revenue in the food market for Nordic countries will continue to grow and reach 107.6 billion U.S. dollars by 2027.
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