SWEDEN, Stockholm. Scandi Standard has entered into an agreement to subscribe for approximately 51% of the shares in Rokkedahl Foods ApS (Rokkedahl Foods) through its Danish subsidiary Danpo.
The Rokkedahl family, which will continue to own approximately 49% of Rokkedahl Foods, has produced chickens since 1963 in Kølby in Himmerland (25 km from Danpo in Aars). The Rokkedahl family also operates Rokkedahl Landbrug, which supplies live chickens to processors including Rokkedahl Foods, and certain other businesses.
The investment, which is not subject to any approvals from authorities, is expected to close on 1 September 2018. While Rokkedahl Foods will be consolidated by Scandi Standard, the investment is not expected to have any material effects on Scandi Standard’s net sales, net operating income and net cash flow, but will accelerate the implementation of a premium concept in Denmark and give access to the new processing plant that is ideally structured for processing of organic and free-range birds.