Aspo Plc

Inside information: Aspo to divest its Leipurin business to Lantmännen

Aspo Plc Inside information 15 August 2025 at 11.30 a.m. EEST

Inside information: Aspo to divest its Leipurin business to Lantmännen

Aspo has today signed an agreement to divest its Leipurin business to Lantmännen at an enterprise value of EUR 63 million. The estimated cash consideration payable at closing is approximately EUR 60 million.

The transaction is subject to regulatory approvals. The transaction is expected to be completed in the first quarter of 2026.

On Capital Markets Day 14 May 2024, Aspo published its portfolio vision: to form two separate companies, Aspo Compounder (Telko and Leipurin) and Aspo Infra (ESL Shipping), in the coming years. Aspo also communicated that divestment of the businesses is one of the strategic alternatives to be evaluated to maximize shareholder value. The divestment of Leipurin significantly strengthens Aspo’s balance sheet and enables future growth investments for the Telko business. The divestment of Leipurin is a major step in executing the communicated vision, along with Telko's already completed M&A activities and ESL Shipping's significant investments in best-in-class vessels.

”The divestment of the Leipurin business is the best way to implement Aspo’s strategy and value creation. During the past years, Leipurin has sold its equipment-related businesses, exited its businesses in the east and completed three acquisitions in western markets. We have also clearly improved the performance of Leipurin in recent years and supported the success of our customers. I am very proud of the transformation achieved at Leipurin and the work done by the personnel. As part of Lantmännen, Leipurin will continue to have an excellent framework for systematic and customer-driven growth and development,” says Rolf Jansson, CEO of Aspo Plc.

“The acquisition of Leipurin is part of Lantmännen's strategy to broaden and strengthen the value chain in food ingredients. Together with our existing operations and the new plant-based protein facility currently under construction, we see strong opportunities for growth in both existing and new markets. With Leipurin, we gain valuable expertise in developing innovative products in close collaboration with customers,” says Magnus Kagevik, President and CEO of Lantmännen.

In 2024, Leipurin’s net sales totaled EUR 133.1 million (2023: EUR 136.1 million), comparable EBITA was EUR 4.9 million (2023: EUR 4.5 million) and invested capital EUR 49.7 million (2023: EUR 46.0 million). Leipurin offers food ingredients and expert services in the bakery, food industry and food service markets in Finland, Sweden and the Baltic countries. Leipurin has approximately 160 employees. According to Lantmännen, Leipurin will operate as a separate business within Lantmännen's Energy Division, which currently includes food ingredients operations, such as plant-based proteins and oat-based ingredients.

The sale of the Leipurin business will be implemented as a sale of shares, and it will cover all the companies in the Leipurin segment. Aspo will report the Leipurin business as discontinued operations starting from the third quarter of 2025.

Upon completion, Aspo will record a sales gain of approximately EUR 16 million, which has an impact on Aspo’s reported result. The transaction does not have an impact on Aspo’s guidance for 2025: Aspo Group’s comparable EBITA is expected to be EUR 35–45 million in 2025. Aspo Group’s comparable EBITA expectation includes the comparable EBITA of the whole Group, including Leipurin business.

Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Lantmännen is owned by 17,000 Swedish farmers and it has 12,000 employees and operations in over 20 countries. The annual turnover of Lantmännen is SEK 70 billion.

Aspo Plc

Rolf Jansson
CEO

For additional information, please contact: 
Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com 

Distribution:
Nasdaq Helsinki
Key media
www.aspo.com

_{Aspo creates value by owning and developing business operations sustainably and in the long term. Aspo’s businesses – ESL Shipping, Telko and Leipurin – enable future-proof, sustainable choices for customers in various industries. Established in 1929, today we are together about 800 experts on land and at sea. While the Nordic region is our core market, we serve our customers with world-class solutions in 18 countries around Europe and parts of Asia.}

_{Aspo is listed on Nasdaq Helsinki and is headquartered in Finland.}

_{Aspo – Sustainable value creation}