Lantmännen becomes the sole owner of Scandbio after reaching an agreement to buy Neova Group's shares in the company.The acquisition is subject to normal regulatory review in Sweden, Denmark, and Latvia. Until the authorities' decisions are made, Scandbio will continue to be run by both Lantmännen and Neova Group Oy.
Scandbio was formed in 2014 when Lantmännen and Finnish Neova merged their operations. Since 2014, both owners have been operating the company, with equal shares, as a joint venture. A situation that, after the approval of competition authorities, will change as the company will be fully owned and operated by Lantmännen.
Lantmännen and Neova have agreed that Lantmännen will buy Neova's 50% of Scandbio, enabling the integration of the company into the Lantmännen Group.
Scandbio is Sweden's largest company in solid processed wood fuels. It has its head office in Jönköping and five plants in Sweden and one in Latvia. The company manufactures, markets and sells wood pellets for incineration in Sweden, Denmark and the Baltics and stable pellets for the Swedish market.
Scandbio and its approximately 130 employees will be integrated into Lantmännen's Energy Sector.
