Lantmännen Biorefineries acquires stake in Sproud to strengthen pea protein position
Lantmännen Biorefineries is investing in Sproud, a company dealing in plant-based dairy products based on pea protein.
With this investment, Lantmännen Biorefineries becomes a minority stakeholder with a share of approximately 10 per cent.
Lantmännen has made a calculated investment in Sproud to take advantage of the rising demand for plant-based milk substitutes. With a portfolio of brands and goods that meet customer demands, Lantmännen, a prominent agricultural cooperative, is well-represented in the Swedish dairy market. By investing in Sproud, Lantmännen hopes to increase the range of plant-based milk products it offers.
“It’s a positive development that we can become a part-owner of Sproud, an exciting company with a bright future. We have great interest in plant-based proteins, not least considering our current efforts in Lidköping. This investment is an important step in strengthening our presence and knowledge in the entire pea protein value chain,” says Fredrik Krook, MD of Lantmännen Biorefineries.
The collaboration between Sproud and Lantmännen benefits both businesses in a number of ways. The investment gives Lantmännen a presence in the expanding market for plant-based milk, enabling the business to capitalise on the trend and broaden its product line. Sproud can expand its operations and reach a larger audience thanks to the agreement, which gives it access to Lantmännen’s vast network of distributors, suppliers, and customers.
Sproud’s products are available in an international market of 30 countries in the Nordics, the UK, Europe, the US, Canada and Asia. They are sold online and in grocery stores – and are offered in cafés, hotels, and restaurants.
“We are in an exciting phase with an expanded innovation pipeline and strong growth. Global demand for plant-based products is rising, driven by consumers’ growing interest in health, sustainability and the food of the future. We are pleased to welcome Lantmännen Biorefineries to Sproud’s group of shareholders,” says Sara Berger, CEO of Sproud.
