Aspo sells Leipurin to Lantmännen

Aspo, a company listed on the official list of Nasdaq Helsinki, has sold its Leipurin business to Lantmännen, an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy, and food products. The transaction has an enterprise value of EUR 63 million. Completion of the transaction is subject to regulatory approvals and is expected in the first quarter of 2026. COBALT assisted Aspo with matters related to Leipurin’s subsidiaries in all three Baltic countries.

Leipurin provides food ingredients and expert services to the bakery, food industry, and food service markets in Finland, Sweden, and the Baltic countries. The company employs approximately 160 people. The divestment of Leipurin significantly strengthens Aspo’s balance sheet and enables future growth investments in Aspo’s Telko business. It also represents a major step in executing Aspo’s communicated vision, alongside Telko’s completed M&A activities and ESL Shipping’s significant investments in best-in-class vessels.

The COBALT team was led by Partner Jesse Kivisaari. The legal team included experts from COBALT offices across all three Baltic countries: Managing Associate Mart Blöndal and Senior Associate Liina Saaremets from Estonia, Senior Associate Mārtiņš Tarlaps from Latvia, and Senior Associate Manvydas Borusas together with Associate Aurimas Drumstas from Lithuania.