The Finnish entrepreneurial family Hukkanen expands its operations by acquiring Taimen Oy
Press release I 01 OCT 2015
Hukkanen, a Finnish family-run business operating in fish industry over 40 years, acquires the entire share capital of the Taimen Group’s units in Finland and Sweden. Taimen Group was founded in 1964 and it is the only fish farming company in Finland that can supply fresh rainbow trout to wholesalers, stores and further processors throughout the year.
Hukkanen becomes a leading company in the Finnish fish industry
The fish farm supports V. Hukkanen Oy’s strategy, according to which the Group seeks growth particularly by offering its customers different variants of fresh rainbow trout.
This acquisition makes V. Hukkanen Oy the only company in the Finnish fish industry that manages the entire chain, production of fresh rainbow trout, from roe all the way to the consumers’ table around the year.
Taimen Group will continue to operate as an independent unit which, however, will utilise in the future the V. Hukkanen Oy’s existing channels and more than 40 years of experience in further processing and fish trade sectors. The group of companies will continue to invest even more to increase profitability, for example through exports, among other things.
All the Taimen Group employees will continue working in their positions. The companies employ 190 people in total.
“Right now, Finland needs, above all, profitable business and export growth in order to maintain tax revenue and keep jobs. That is also in our interest as a family-run business looking forward into the future”, says Veijo Hukkanen, President /CEO of V. Hukkanen Oy.
V. Hukkanen Oy briefly
V. Hukkanen Oy, operating in Sastamala and Turku, was founded in 1975. It is a Finnish front runner in the industry, specialising in fish processing, wholesale, import and export.
The cornerstones of the company’s business are quality, responsibility, leadership and family entrepreneurship. V. Hukkanen Oy develops, produces and markets high-quality fish products under the Kalaneuvos brand: 70% of its turnover is represented by processed fish products and 30% by the sales of whole fish. After this acquisition Norwegian salmon will remain as one of the main products of the V. Hukkanen Oy.
The family business employs 106 people, and in 2014, its turnover amounted to approximately EUR 55 million.
Martin Kala Oy, which is specialised in Baltic herring production, was founded in 1954. The company was acquired in 2013 and is now also part of the Group. The total combined annual volume of fish products processed by V. Hukkanen Oy and Martin Kala Oy is approximately 11 000 tons.
Taimen Group briefly
Founded in 1964, Taimen Group is one of the oldest companies in the fish industry in Finland and a leading operator in the Finnish and Swedish markets. The Group is specialised in fingerling production and rainbow trout farming for food. The parent company of the Group is Taimen Ltd. and its subsidiary is Ålands Fiskförädling Ltd. Taimen Group has 30 locations in mainland Finland, Åland and Sweden.
Taimen Group employs about 80 people, and in 2014, its turnover was approximately EUR 34 million.
The overall annual production of Taimen Group is over 8 000 tons, and it currently produces more than 50% of the Finnish rainbow trout.
Executive Vice President of V. Hukkanen Oy