Potato breeder HZPC Holland bv, has announced
the acquisition of all the remaining shares in the
joint venture of the Finnish company HZPC Sadokas Oy. With all shares of HZPC Sadokas Oy, HZPC Holland also acquires the Russian company AO HZPC Sadokas in Saint Petersburg. AO HZPC Sadokas produces seed potatoes in Russia, imports seed potatoes from Finland and the Netherlands and distributes these seed potatoes to potato growers across Russia.
HZPC Holland B.V. already owned 41.3% of the shares of HZPC Sadokas Oy and has now also acquired the remaining 58.7% of the shares of the Finnish seed potato company. HZPC Holland buys the shares from the founder of the company, the major shareholder and managing director, Mr. Jaakko Rahko and from several Finnish minority shareholders.
Investing in Russian production
Russia has a large potato acreage. A number of potato processing industries have already invested or intend to invest in Russia to supply the Russian market. Production of good quality seed potatoes can be challenging in Russia. Western European seed potatoes are relatively expensive for Russian growers. The current political situation does not provide certainty that the trade of seed potatoes from Western Europe to Russia will always be possible. However there is a demand for the HZPC varieties in Russia, for both the fresh market as well as for the industry, which is why HZPC chooses to invest in the local production of HZPC seed potatoes.
For more information:
Mr. Gerard Backx
Tel: +31 (0)513 48 98 88
Mr. Jaakko Rahko
Tel: 358-400 388 279
