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HKScan to Sell Share in Nyhléns & Hugosons Chark

06 January 2014

SWEDEN - Finnish meat processor HKScan is to sell its 49 per cent stake in Nyhléns & Hugosons Chark AB to Alviksgården Lantbruks AB as part of its development programme and strategy review in Sweden.

The agreement was signed on 2 January 2014.

After the transaction is completed, all Nyhléns & Hugosons Chark AB shares previously owned by HKScan will be transferred to Alviksgården Lantbruks AB.

The sale price was €2.2 million which was paid in cash. The deal caused an asset impairment of €2.1 million which will be reported as a non-recurring cost in the fourth quarter of 2013.

Nyhléns & Hugosons Chark AB is engaged in the meat and processed meats business. The company’s net sales are approximately SEK 500 million (€50 million) and it employs 230 people and has plants in Luleå, Alvik, Skellefteå and Ullånger.

HKScan’s aim is to streamline its business structure in Sweden, continue its brand and product offering development and raise the added-value of its products. The Scan brand is the local market leader and one of the best-known consumer brands in Sweden. Pärsons brand is the leading brand in e.g. cold cuts.

TheMeatSite News Desk

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