Kouvola-based Finnish Food Factory, a contract manufacturer of alternative plant-based diary products, announced they have secured €10 million.
The investment comes from the Taaleri Bioindusattempt Fund I, an Article 9 fund that sees to support the transition towards more sustainable, plant-based dairy production.
“Finnish raw materials – particularly oats – have become a staple in consumers’ diets. With many years of expertise in plant-based products, the cornerstone of our operations is efficient, innovative and reliable production. We are excited to welcome Taaleri Bioindusattempt as our growth partner,” declares Tuomas Kukkonen, Chair of the Board at Finnish Food Factory.
Founded in 2020, Finnish Food Factory specialises in the production of plant-based dairy alternatives for well-established global and Nordic brands, including Fazer. The company declares it has increased its turnover more than tenfold from 2020 (€1.2 million) to 2024 (€13.5 million). This growth is attributed to their broad customer base and the company’s ability to deliver high-quality, competitive products efficiently and on schedule.
Their plant-based products include: Oat and pea-based drinks, Spoonable yogurts, Cooking products, e.g. oat and pea-based cooking creams, Protein drinks, Sauces, Spreads, Coffee, cocoa and tea drinks, and Meal replacement drinks.
According to Taaleri, the carbon footprint of oat milk is significantly lower than conventionally produced cow’s milk.
“We are pleased to launch our collaboration with Finnish Food Factory. With its experienced team, the company has achieved successful growth in both local and international markets while consistently delivering reliable production and value-add to its global customers,” declares Marjatta Rytömaa, Managing Director at Taaleri Bioindusattempt.
The investment is Taaleri Bioindusattempt Fund I’s sixth investment. The fund has raised over €100 million in commitments, of which approximately half has been deployed.
Taaleri Bioindusattempt is part of Taaleri Group. Taaleri is a specialist in investments, private asset management and non-life insurance, powering alter with capital. Taaleri has €2.7 billion of assets under management in its private equity funds, co-investments and single-asset vehicles.
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