Taaleri Bioindustry – a bioeconomy growth investor under the Finnish Taaleri Group investment firm – has injected €10 million into plant-based dairy alternative manufacturer Finnish Food Factory.

The investment, part of Taaleri’s Bioindustry Fund I, will support Finnish Food Factory in expanding its production capabilities, driving long-term growth and broader market reach.

Based in Kouvola, Finland, Finnish Food Factory specialises in the production of plant-based dairy alternatives for global and Nordic brands, including Fazer. The company has increased its turnover more than tenfold from €1.2 million in 2020, to €13.5 million in 2024.

Through its investment, the Article 9 fund aims to support the transition towards more sustainable, plant-based dairy alternative production – the carbon footprint of oat milk is significantly lower than that of traditional cows’ milk.

Tuomas Kukkonen, chair of the board at Finnish Food Factory, said: “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.”

The investment is Taaleri Bioindustry Fund I’s sixth investment, having already raised €100 million in commitments of which approximately half has been deployed.

Marjatta Rytömaa, managing director at Taaleri Bioindustry, commented: “We are pleased to begin our collaboration with Finnish Food Factory. 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.”