Aventum advised Tukkuheino Oy and other owners on the sale of Heinon Tukku to Valio
Tukkuheino Oy and other owners have agreed to sell Heinon Tukku Oy to Valio Oy. The transaction does not include Heinon Tukku’s subsidiary Kalavapriikki Oy and Tukkuheino Oy will also remain owner of the properties in Espoo, Helsinki, Vantaa and Kuopio.
Heinon Tukku has been operating for more than 120 years and is today one of Finland’s largest wholesalers serving professional kitchens. Buying Heinon Tukku is a natural step for Valio whose strategic goal is to be a pioneer in food solutions. The trend of eating out and takeaway is forecast to return to a growth trajectory as the corona pandemic eases and Valio aims to become an even broader partner for restaurant and café professionals. In the transaction, c. 340 employees will transfer to Valio.
Valio and Heinon Tukku complement each other. Heinon Tukku has a selection of thousands of products, from fresh vegetables to napkins and especially restaurants and cafés in the Helsinki metropolitan area as customers. Valio, on the other hand, has the country’s largest distribution network and is strong especially in the public sector customers. Together, Valio and Heinon Tukku will be a wide-ranging partner for those restaurant operators for whom quality, domesticity, an in-depth understanding of customer needs and delivery security are key factors.
Over the years Aventum has advised and supported Heinon Tukku and its owners on several transactions including the sale to Kesko in 2019 that was prohibited by the Market Court. After the prohibited Kesko transaction, Aventum supported Heinon Tukku in evaluation of strategic alternatives and finally advised and provided support throughout the process with Valio, from early discussions to final negotiations, working closely together with the owners and other advisers. Aventum’s long-term relationship with Heinon Tukku and the owners, knowledge of the company and experience from the sector ensured smooth process and co-operation leading to successful outcome during turbulent times heavily affecting the HoReCa sector.
The transaction is subject to the approval of the Finnish Competition and Consumer Authority. The transaction is expected to close during the summer of 2021.
For further information regarding the transaction please contact:
Heikki Palmroth
Partner
heikki.palmroth@aventum.fi
+358 40 555 4737
