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Canada’s Lallemand acquires Finnish Yeast Ltd

15/01/2007

In the first week of January, Lallemand GmbH, a Vienna-based subsidiary of the Canadian company Lallemand Inc, announced that it had acquired Finnish Yeast Ltd from Polttimo Companies Ltd. Finnish Yeast Ltd is Finland’s only yeast producer and employs 18 people in the City of Lahti. The company’s main products are pressed yeast and yeast cream for bakeries, and fresh and dried baker’s yeast for consumers. According to a statement issued by Polttimo Companies Ltd, yeast production in Lahti and deliveries to both bakers and consumers will continue as before.

In a press release, Polttimo Companies said that Rudi Kreuz, Managing Director of Lallemand GmbH and Jean Chagnon, President and Chief Executive Officer of Lallemand Inc are very happy to have acquired this leading Finnish producer of yeasts with its modern state-of-the-art plant serving industrial customers and consumers thoughout Finland and in the St Petersburg area of Russia. ”We look forward to working with Finnish Yeast’s experienced and very qualified management team and workforce, adding our knowledge to theirs to find ways to better serve their markets but also to help our other markets and plants.”

In the same press release, Pertti Heiskanen, Managing Director of Finnish Yeast, said he is excited about the many possibilities that the new ownership arrangements bring. ”Finnish Yeast will continue to work in close co-operation with its customers, now supported by the expertise and experience of a leading international operator in the field of yeast and baking. We plan to introduce new products and solutions for industrial bakers as well as for home baking.”

Specialists in the development of yeasts and bacteria

Lallemand Inc. is a closely-held Canadian company specializing in the development, production and marketing of yeasts and bacteria. The company has more than 1500 employees in its four major divisions: North American Bakers Yeast and Ingredients (based in Chicago, USA), European Yeast (Lallemand GmbH based in Vienna, Austria), South Africa (Anchor Yeast based in Johannesburg, RSA) and Specialty (based in Toulouse, France). The parent company is headquartered in Toronto (Canada). Lallemand’s European Yeast division now has operations in Austria, the Baltic States, Finland, Germany, Poland and Slovakia.

Lallemand’s entry into Europe began in 1993 with the acquisition of Salutaguse Pãrmitehas, an Estonian yeast producer located near the City of Tallinn. The Estonian company then bought a Lithuanian yeast company which became the group’s European distribution centre. Lallemand subsequently acquired the Austrian yeast producer Harmer Hefe with a plant near Vienna, and Harmer Hefe soon created a joint venture with Giegold Hefe, a Bavarian yeast producer, to launch Hagold Hefe GmbH, which operates several yeast production plants. Lallemand GmbH (formerly Harmer Hefe), recently acquired three Polish plants in Lublin, Cracow and Jozefow.

Further information: http://www.polttimocompanies.com/news/