Raisio Updates Strategy For Its 'Good Food Plan'
Raisio has announced an updated strategy and new targets for its Good Food Plan responsibility programme for 2022–2025.
The group said its primary focus would be target growth through new capabilities, increased capacity, and new product categories enabled by the investments in recent years.
The Finnish company, specialising in responsibly produced food and fish feeds, will focus on three areas to enable growth.
Firstly, Raisio will continue to invest in growing the international Benecol brand.
Plant stanol ester in Benecol products lowers cholesterol, and the health claim has earned the approval of the EU commission.
Furthermore, the group will invest in a research programme to study other potential health benefits of plant stanol ester.
Secondly, the group will look for opportunities in the value-added oats and ingredients market based on its expertise in the area.
Lastly, the group wants to strengthen its position in the plant-based food market in Finland as well as internationally.
This extends to launching new plant-based products using gluten-free oats, including oat drinks, cooking products, and healthy snacks under the Elovena brand.
Pekka Kuusniemi, CEO of Raisio, said, " During the last three years, we have invested nearly €65 million in increasing our production capabilities and expanding our product portfolio. It is time to take the next strategic step and focus on growth.
"The Raisio of the future is a growing company with strong value-based leadership, and its long-term success is enabled by skilled and committed personnel."
The company has projected the compound annual growth rate (CAGR) of the combined net sales from the three focus areas to be around 7% during the strategy period.
The three focus areas form two-thirds of the Raisio Group's net sales, with combined net sales amounting to €157 million in 2020. Overall, the group's net sales stood at €234 million.
The commissioning of the new production facility is set to put pressure on Raisio's profitability during the first years of the strategy period, Raisio added.