Finnish meat processor HKFoods is assessing options for its bacon production unit in Swinoujście, Poland, including a potential sale.
In a stock exchange filing published today (28 April), the company, previously trading as HKScan, said it has started “preliminary investigations” to consider the Polish plant’s future.
The assessment is part of the company’s ongoing evaluation of its group structure with the potential plant sale “aimed at strengthening the group’s balance sheet”, the statement added.
The Polish unit has around 300 employees, according to HKFoods.
The company said it will provide further details on the plans for the facility “when appropriate and will not comment further at this stage”.
Over recent years, HKFoods said it has undergone “major restructuring” to “increase its financial flexibility”, which included the sale of its businesses in the Baltics, Sweden, and Denmark.
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By GlobalDataIn May, the company signed a deal to sell its Danish subsidiary to Netherlands-based poultry group Plukon Food Group for €44.6m ($47.6m).
HKFoods also sold its Swedish business to local agri-food group Lantmännen in 2024.
Results for 2024 were published in February. HKFoods’ net sales from continuing operations stood at €1bn, up 7.4% from the previous year, driven by “good” consumer demand and “successful” commercial activities.
EBITDA from continuing operations rose to €56.3m, a 24.8% increase from 2023.
The loss for the period from continuing operations narrowed to €1.8m, compared to a loss of €17.3m in 2023.
HKFoods estimates its Polish subsidiary will generate net sales of approximately €70m in 2025.
In March, HKFoods closed a slaughterhouse in the town of Paimio, Finland, as cattle numbers declined.
Operations conducted by the company’s Paimion Teurastamo business were to be transferred to the “external service provider” Liha Hietanen in Sastamala by 31 March, HKFoods said in a statement.
