Taaleri Bioindustry invests US$11.64M in Finnish Food Factory

FINLAND – Taaleri Bioindustry has invested US$11.64 million (EUR 10 million) in Finnish Food Factory, a contract manufacturer specialising in plant-based dairy alternatives, to support the company’s growth as demand for plant-based products continues to rise.

This investment marks the sixth in Taaleri Bioindustry Fund I, which has raised over EUR 100 million in commitments.  Approximately half of the funds have already been deployed, with a focus on supporting companies within the bioeconomy and circular economy sectors.

The investment, part of Taaleri’s Bioindustry Fund I, is a step towards supporting the transition to more sustainable food production. The carbon footprint of oat-based milk, compared to traditional cow’s milk, is notably lower.

Marjatta Rytömaa, Managing Director of Taaleri Bioindustry, expressed confidence in the collaboration, stating, “With its experienced team, the company has achieved successful growth in both local and international markets while consistently delivering reliable production and value-add to its global customers.”

Finnish Food Factory has experienced rapid growth since its inception, increasing its turnover from EUR 1.2 million in 2020 to EUR 13.5 million in 2024. While branded plant-based sales dropped 8.3% from 2022 to 2024, private label alternatives grew by 6.8% during the same period.

The company produces plant-based dairy alternatives for both Nordic and global brands, including Fazer, and has built a reputation for delivering high-quality products efficiently.

Tuomas Kukkonen, Chair of the Board at Finnish Food Factory, noted the importance of locally sourced materials, explaining that oats, in particular, have become a key ingredient in plant-based products.

He further stated, “Finnish raw materials – particularly oats – have become a staple in consumers’ diets. With many years of expertise in plant-based products, the cornerstone of our operations is efficient, innovative and reliable production. We are excited to welcome Taaleri Bioindustry as our growth partner.”

With this investment, Finnish Food Factory is poised to expand its production capabilities, driving long-term growth and broader market reach.

Through its investment, the Article 9 fund is supporting the transition towards more sustainable, plant-based dairy production. The carbon footprint of oat milk is significantly lower than conventionally produced cow’s milk.

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