Yanhuan Zhou

SRV – Sale of Pearl Plaza shopping centre

We advised SRV Group plc when it sold its 50% holding in the Pearl Plaza shopping centre in St. Peterburg to CP Invest Limited. The sale was the final part of SRV’s actions to exit from all of its operations in Russia which began in 2022. The sales price of SRV´s ownership of the shopping centre was approximately 11 million euros. SRV is a Finnish developer and innovator in the construction industry. SRV was established in 1987 and is listed on the Helsinki Stock Exchange.

17.2.2025

Valio – Acquisition of the Härkis® and Beanit® fava bean brands

We advised Valio Oy in its acquisition of Raisio Oyj’s plant protein business, related fixed assets and the Härkis® and Beanit® fava bean brands. The fixed assets include, among other things, the production equipment of the factory that makes plant protein products in Kauhava. The transaction supports Valio’s strategy to grow from a dairy company to a food company. This business acquisition will make us an even more significant developer and producer of plant-based protein products. The demand for these products will grow in the long term, and a great deal of growth potential still remains. In 2022, we acquired the Gold&Green® business and, since then, we have been carrying out strong product development and renewed the brand. Following successful product launches, sales in the last quarter of 2024 increased by about 50% from the previous quarter. With this acquisition, we are building our own production capacity. The production equipment of the Kauhava factory is just right for our needs and situation. says Kimmo Luoma, Valio’s Senior Vice President. Valio is a Finnish dairy and food company founded in 1905 and owned by Finnish dairy cooperatives. Valio has subsidiaries in Sweden, Estonia, the United States and China. In 2023, the Group had a turnover of EUR 2 278 million and more than 4 000 employees.

14.2.2025

Metsä Group – Sale of Russian operations

We advised Metsä Group in a transaction whereby its Russian subsidiaries Metsä Svir LLC, Metsä Forest St. Petersburg LLC, Metsä Forest Podporozhye LLC and Metsä Board Rus LLC were sold to VLP Group. VLP Group is a forest industry company operating mainly in the Vologda region of Russia. In 2022, Metsä Group discontinued its Russian operations, including the Svir sawmill, wood procurement and board sales activities. As a result of this transaction, Metsä Group has fully divested its assets in Russia. Metsä Group is a group formed by Metsäliitto Cooperative and its subsidiaries that focuses on wood procurement and forest services, wood products, pulp and paperboard, and tissue and sealing papers. In 2023, the company had a turnover of EUR 6.1 billion and employed around 9 500 people.

15.5.2024

Ramirent and Cramo – Sale of Fortrent Russia

We advised Ramirent Ltd and Cramo Ltd in the sale of the entire share capital of OOO Fortrent to a private investor. OOO Fortrent was previously owned by Fortrent Oy, which is a joint venture of Ramirent and Cramo. OOO Fortrent has been engaged in machine rental operations in Russia since 2013. The company has 18 locations, and its turnover in 2022 was approximately 2.2 billion roubles. Ramirent Ltd, founded in 1994, is a leading service company offering equipment rental for construction and many other industries with a wide range of high-quality rental equipment. Cramo Ltd, founded in 1954, is a full-service construction equipment rental company that also offers construction, renovation and maintenance support services.

4.12.2023

Oddlygood and Valio – Acquisition of Planti

We advised Valio and Oddlygood in their acquisition of the Nordic brand and business Planti. Through the acquisition, Oddlygood becomes the owner of the Planti products and brand, as well as related intellectual property rights. Oddlygood becomes the market leader in plant-based dairy alternative spoonable snacks in Sweden and dairy alternative cooking products in Finland. Simultaneously, Oddlygood’s majority owner Valio acquires Planti’s production in Turku, including the employees at the site. Until the acquisition, the Planti brand was part of the Norwegian Kavli Group.

3.10.2023

SRV – Sale of SRV Russia

We advised SRV Group Plc in the sale of the entire share capital of its subsidiary SRV Russia Oy to Geomare Investments Limited, a Cypriot real estate investment company. The sale is part of SRV’s efforts to exit its Russian operations. SRV, founded in 1987, is a Finnish developer and renovator in the construction sector. SRV is listed on the Helsinki Stock Exchange.

8.8.2023

Valio and C&S – Sustainable everyday life is created through bold reforms

Valio is a food company with the courage to change with the times. Valio’s road to growth and towards the innovative transformation of the food industry is supported by its long-standing business law partner, Castrén & Snellman. Juha Hölttä became Valio’s General Counsel at a time when the company kicked its new strategy into a higher gear. ‘In the past two years we have made several significant market initiatives and expanded our business from food production to other areas of the value chain. By acquiring Heinon Tukku, we now provide a new kind of added value to restaurants and professional kitchens through our Valio Aimo ® wholesale business. And our joint venture with St1, Suomen Lantakaasu Oy, will enable us to reach our goal of turning manure into biogas for heavy transportation,’ Hölttä describes some of the milestones of the new strategy. In addition to expanding into new business areas, Valio continues to build a more sustainable dairy business alongside seeking international growth from plant-based products. Valio has invested in the international growth of its Oddlygood ® brand through incorporation and gained additional product development expertise through the acquisition of Gold&Green. Carbon footprint of milk reduced by new business operations Dairy products are at the core of Valio’s business, and the company develops this strong foundation not only through product innovation but also at the beginning of the food chain. ‘Who could have foreseen that dairy farm manure could become one way of tackling climate challenges? Our planned biogas plants will use manure and agricultural by-products to produce renewable liquefied biogas for use as transportation fuel,’ says Hölttä. ‘Valio is aiming for a carbon-neutral milk chain by 2035. We are making major reforms in our operations in order to make this happen.’ The sustainability programme for Valio’s 3,700 dairy farms has been expanded, and it now includes the preventive and systematic healthcare of cows as well as actions related to grazing, the climate and biodiversity. ‘Appreciation for locally produced food is on the rise, which means that sustainability questions are local as well. This is a good trend, as it makes it easier for us to make a difference.’ ‘Strategic help even in difficult circumstances’ The service-mindedness of lawyers is key in implementing a growth strategy. Castrén & Snellman Attorneys is a long-standing partner of Valio, and the relationship between the two is tight. ‘At Valio, we are always exploring new business opportunities, and us lawyers are tasked with assessing these opportunities. My philosophy as the General Counsel is that my door is always open. Together we can evaluate how to solve and implement new initiatives. In this job, you must be curious, broad-minded and business-oriented,’ summarises Hölttä. Hölttä’s legal team of five people is supported by experts from Castrén & Snellman. The key to successful partnership is that both parties are familiar with each other’s business operations and ways of working. ‘Castrén & Snellman knows us well, and they maintain an up-to-date overview of our situation, which I highly appreciate. It means that we are able to tackle tricky situations together quickly even in difficult circumstances.’ A joint fast reaction was needed, for example, when Valio exited the Russian market after the country launched its war of aggression on Ukraine. ‘The responsible thing was to leave quickly but in a controlled manner and by repatriating our investment as opposed to leaving an operational food production facility in the hands of a country that was waging war.’ A shared vision of sustainability Valio – Together we make life better A Finnish food company Approx. 4,600 employees Owned by 13 Finnish dairy cooperatives Finland’s most sustainable brand in the Sustainable Brand Index study Read more about sustainability at Valio Castrén & Snellman – Building sustainable success stories Forerunner of demanding legal services 300 employees Owned by its partners ‘We help our clients build sustainable success stories and achieve their sustainability goals.’ Read more about sustainability at Castrén & Snellman Shared success stories of Valio and C&S Global Brand Portfolio Management and IP Enforcement Purchase of Gold&Green’s Brand, IPR and R&D Function Joint Venture for Biogas Production with St1 Sale of Russian Operations Acquisition of Heinon Tukku Significant Growth Funding Round Competition Damages Case Defending Against Environmental Permit Challenge at the Appellate Level

4.5.2023

Triton-backed Geia Food – Acquisition of Topfoods companies

We acted as the Finnish legal advisor for Geia Food, a portfolio company of Triton Smaller Mid-Cap Fund II, in its acquisition of Topfoods Finland Oy and TFR Topfoods Retailing Oy. With this acquisition , Geia Food is expanding its footprint in the Nordics and expands on the Finnish foodservice and industrial product market. Geia Food is the leading supplier of food concepts in Scandinavia with approximately 120 employees and has offices in Denmark, Sweden, Norway and Finland. Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer , and healthcare sectors. The companies currently in Triton’s portfolio have combined sales of around EUR 18 billion and employ around 105,000 employees. Triton Smaller Mid-Cap Fund II applies Triton’s proven investment strategy to lower mid-market companies in the same core sectors of Services, Healthcare, Industrial Tech and Consumer, using Triton’s in-house operational capabilities and resources to help management teams to sustainably expand their companies’ market position and to implement their growth strategies. Topfoods companies have an annual turnover of approximately 30 million EUR and employ a total of 15 employees.

26.4.2023

Triton – Platform investment and formation of Habeo Group

We advised Triton Smaller Mid-Cap Fund II in a new platform investment, the formation of Habeo Group, through its acquisition and financing of eight Finnish companies. After the acquisition, Habeo Group has approximately MEUR 120 in net sales with over 600 experts providing a variety of technical building services, such as heating, plumbing and sewerage, ventilation and air conditioning, electrical works, cooling and refrigeration, fire safety and automation. In line with Habeo Group’s strategy, it has acquired successful, locally operating Finnish group companies and is now Finland’s fifth largest player in the industry. Habeo Group continues to implement its strategy through acquisitions that suit its service portfolio in Finland. The eight Habeo Group companies are the following: Afire Oy – A company that provides its clients with the best fire suppression solutions for different purposes in the market. ESP Group – A group of companies specialised in new building and repair construction, offering all HVAC, electricity and automation services reliably and skilfully. HSK Sähkö Oy – A versatile and flexible full-service electrical contractor operating in all of Finland. Neloset Group – A full-service technical building service and construction company providing housing cooperatives with construction and renovation services from a one-stop shop. Respect Group – A group that serves its clients seamlessly in all their repair construction needs. SFT Finntekniikka Oy – A refrigeration expert that provides comprehensive, high-quality service in refrigeration equipment and cooling systems. Sähkö Oy Turku and Helsinki – A group of electrical engineering companies with a large range of services including design, installation, on-site project supervision and subcontracting. Vaasan Kylmäkone Oy – A company that plans, sells, installs and maintains refrigeration equipment and systems for professional use. Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer and healthcare sectors. The companies currently in Triton’s portfolio have combined sales of around EUR 18 billion and employ around 105,000 employees. Triton Smaller Mid-Cap Fund II applies Triton’s proven investment strategy to lower mid-market companies in the same core sectors of Services, Healthcare, Industrial Tech and Consumer, using Triton’s in-house operational capabilities and resources to help management teams to sustainably expand their companies’ market position and to implement their growth strategies.

21.4.2023

SATO – Divestment of Russian housing business

We advised SATO Corporation when it sold is housing business in Russia. SATO has been operating in St. Petersburg since 2007 and the company owned 522 rental apartments. The arrangement has no significant impact on SATO’s profit. SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. In 2022, SATO Group’s net sales totalled EUR 291.2 million.

19.4.2023

Reka Industrial – Sale of Reka Cables to Nexans Group

We are acting as the legal advisor to Reka Industrial Plc in the sale of its wholly owned subsidiary Reka Cables Ltd, which operates the cable business of Reka Industrial. The purchase price of the shares is EUR 53 million and will be paid in cash. According to the Finnish Accounting Standards, the net debt of Reka Cables at the end of September 2022 was EUR 6.5 million. The completion of the transaction, conditional on the approval of the Extraordinary General Meeting of Reka Industrial and approvals by competent regulatory authorities, is expected to take place during the first half of 2023. Reka Oy, representing in aggregate 65.36% of the voting rights in Reka Industrial, has irrevocably undertaken to vote in favour of the transaction at the Extraordinary General Meeting. Reka Cables is the largest Finnish-owned cable manufacturer, which has been at the forefront of the cable industry for more than 60 years. Reka Cables provides durable, high-standard cable solutions for renewable energy production, network construction and industry as well residential and office construction. Reka Cables has approximately 270 employees, and the turnover in 2021 was EUR 134 million.

10.11.2022

Huhtamaki – Sale of Russian operations

We advised Huhtamaki in the sale of its operations in Russia to Espetina Ltd. The transaction included four manufacturing units in Russia, employing a total of 724 people. The cash and debt free sales price was EUR 151 million. As a result of the sale, Huhtamaki expects to book a gain of approximately EUR 15 million in its third quarter. Huhtamaki is a key global provider of sustainable packaging solutions for consumers around the world. Its 2021 net sales totalled EUR 3.6 billion. Huhtamaki Group is headquartered in Espoo, Finland and its parent company, Huhtamäki Oyj, is listed on Nasdaq Helsinki Ltd.

9.9.2022

KONE – Sale of Russian operations

We advised KONE Corporation, a global leader in the elevator and escalator industry, in its negotiations on the divestment of its business in Russia to local management. The plans for local ownership and operations will provide a more sustainable long-term solution for employees and customers. The share purchase agreement with local management is subject to approval by the relevant regulatory authorities in Russia and is expected to close during the fourth quarter of 2022. Following the closing of the deal, the business will operate independently under a different brand. Russia accounts for less than 1% of KONE’s global sales and the company currently employs approximately 650 people in Russia, serving approximately 1500 customers. In 2021, KONE had annual sales of EUR 10.5 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd.

13.7.2022

Fazer – Sale of Russian subsidiary

We advised Fazer in the sale of its Russian subsidiary to Moscow’s leading bakery company Kolomenskij Bakery and Confectionery Holding. The Federal Antimonopoly Service of Russia (FAS) has approved the sale. Following the sale, all Fazer’s operations in Russia will end. Fazer announced its intention to exit Russia on 6 March and prior to this communicated the suspension of all exports and investments to Russia. Local management has run the operations in Russia independently after the announcement. As part of the exit process the renaming of the Russian subsidiary has been finalised and the use of Fazer as a product brand will end. In 2021, Fazer’s net sales from Russia totalled approximately EUR 157 million, accounting for 13% of total net sales for Fazer Group. The operations include three bakeries in St Petersburg and one in Moscow. The company employs 2 300 employees. All Fazer’s employees in Russia have transferred to the new owner.

2.5.2022

Valio – Sale of Russian Operations

We advised Valio in its negotiations on the divestment of Valio’s Russian operations to Velkom Group. The transaction includes Valio’s Russian operations and the processed cheese factory in Ershovo. The Viola® brand processed cheese sold and produced in Russia is also part of the transaction. Product brand rights to the Valio Viola® fresh cheeses sold in Finland and produced by Valio in Finland are not included in the transaction. In 2020, Valio’s net sales in Russia were EUR 87 million and accounted for approximately 5 per cent of Valio’s global net sales of about EUR 1.8 billion. On 7 March 2022, Valio decided to withdraw from operations in Russia. With this transaction, all Valio’s operations in Russia end immediately. Valio exports products to some 60 countries around the world. The total value of Valio’s international operations and exports is about EUR 750 million annually, i.e. approximately 40 per cent of Valio’s total net sales.

26.4.2022

Valio – Purchase of Gold&Green’s Brand, IPR and R&D Function

We advised Valio in the purchase of all the rights of the Gold&Green brand, Gold&Green Foods’ intellectual property and its research and development function from Paulig. Gold&Green Foods is known for its revolutionary plant-based innovation Pulled Oats. The arrangement does not include other Gold&Green Foods operations, and Paulig will continue Gold&Green Foods’ current operations and sell Gold&Green products under license from Valio. ‘Gold&Green has been a pioneer in the field of plant-based food and new product development, and Valio has successfully developed its Oddlygood plant-based product portfolio. Now, the Gold&Green R&D team joins us in reaching our strategic goal—to further strengthen our position in the growing global plant protein market. Together, we will develop the innovations in Gold&Green’s pipeline and continue the story of the brand’, says Tuomas Salusjärvi, Executive Vice President, Growth Businesses and R&D at Valio. Valio is a Finnish dairy and food group founded in 1905 and owned by Finnish regional dairy co-operatives. Valio has subsidiaries in Sweden, the Baltics, the USA and China. It had net sales of EUR 1,787 million in 2019 and employs over 4,000 professionals.

2.3.2022

Körber – Majority stake in AI consulting company DAIN Studios

We advised Körber, an international technology group in strengthening its Business Area Digital by acquiring a majority stake in DAIN Studios, a Finnish-German based company which provides data and AI consultancy. ‘AI First is a key strategic initiative for Körber. With DAIN Studios, we strengthen our position globally as innovation leader in the future-oriented field of AI’, says Dr Christian Schlögel , Chief Digital Officer and Member of the Körber Group Executive Board. ‘With the consulting expertise of DAIN Studios, we expand our possibilities to leverage the power of AI to create a visible business value on the side of the customer.’ Körber was established in 1946 and today has about 10,000 employees and more than 100 locations worldwide. Körber Business Area Digital offers and develops digital products, services and solutions with experts, science and partners from multiple industries within logistics, pharma, tissue and tobacco to transform global manufacturing. Körber AG is the holding company of the Körber Group. DAIN Studios is a Finnish-German data and AI consultancy business established in 2016, which offers artificial intelligence solutions. DAIN Studios’s clients come from a variety of industries such as telecommunications, pharmaceuticals, manufacturing, banking, insurance and media.

25.1.2022

Valio and Oddlygood Global – Significant Growth Funding Round

We are advising Valio, one of Finland’s premier food companies with more than a century of product development experience, and its subsidiary Oddlygood Global (OGG) in relation to OGG’s first round of financing. OGG will be receiving a EUR 25 million investment into the company from Mandatum Asset Management. Valio will continue as OGG’s majority shareholder after the investment. OGG develops and markets plant-based products under the Oddlygood™ brand, including oat drinks for coffee and products used in cooking and baking. The sales of Oddlygood™ products have doubled each year and OGG’s global growth potential is even larger. Currently, Oddlygood™ products are sold in Finland and Sweden, as well as the UK, USA, Russia and the Baltic countries. Mandatum Asset Management (MAM PE) is a Finnish private equity investor focusing on significant minority investments in Nordic growth companies with proven business models. As an active owner with an experienced investment team, MAM PE can provide OGG with more strategic expertise in global consumer products and further support its growth in international markets. Through its investment, MAM PE will become a minority shareholder in OGG. Valio is a Finnish dairy and food group founded in 1905 and is owned by Finnish regional dairy co-operatives. Valio has subsidiaries in Russia, Sweden, the Baltics, the USA and China. It had net sales of EUR 1,787 million in 2019 and employs over 4,000 professionals.

17.12.2021

Gasum – Sale of the Risavika LNG Production Plant to North Sea Midstream Partners

We acted as the legal advisor to Gasum in the divestment of the Risavika LNG production plant in Norway to North Sea Midstream Partners (NSMP). Gasum will remain a major off-taker of the liquified natural gas (LNG) and liquified biogas (LBG) produced at Risavika plant under a long-term agreement as part of the transaction. The transaction is in line with Gasum’s growth strategy and the evolving LNG market. Gasum is a leading supplier of biogas and processer of biodegradable waste fractions in the Nordic countries. Gasum promotes the circular economy by processing waste and producing biogas and recycled nutrients in Finland and Sweden, and is the biggest distributor of liquefied natural gas (LNG) in the Nordic countries. Gasum is a fully state-owned company. NSMP is a leading independent midstream business with large-scale gas infrastructure assets serving the North Sea. NSMP provides essential services to over 35 fields owned by energy majors, utilities and independent producers, through a combined gas pipeline length of nearly 600km making NSMP’s infrastructure the largest and most diversified gas transportation and processing system in the UK.

3.11.2021

Lantmännen – Acquisition of Myllyn Paras

Castrén & Snellman advised Lantmännen in its contemplated acquisition of Finnish food company Myllyn Paras from Sponsor Capital and minority owners. The acquisition is a key step in broadening Lantmännen’s offering in Finland. Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Lantmännen is owned by 19,000 Swedish farmers and has 10,000 employees in over 20 countries. Myllyn Paras is a Hyvinkää-based company manufacturing, marketing and distributing flour, flakes, grains and pasta as well as frozen dough and bakery products. Myllyn Paras was established in 1928 and operates two factories in Hyvinkää and one in Tammela. Myllyn Paras is one of the most valued food brands in Finland. The group also exports products internationally. Myllyn Paras group employs approximately 110 employees. The completion of the acquisition is subject to obtaining merger control approval from the Finnish Competition and Consumer Authority.

23.9.2021

ALS Finland – Acquisition of AHA-LAB

We assisted ALS Finland Oy in its acquisition of the entire share capital of asbestos and harmful substance laboratory AHA-LAB Oy. The acquisition strengthens multinational ALS Laboratory Group’s position as a provider of analytics services in Finland. AHA-LAB was founded in 2014 in Espoo, Finland. The company specialises in laboratory analytics for the construction, housing health and environmental fields, and the company has developed from a small start-up to a respected expert organisation in its field. ALS Finland Oy is part of the international ALS Laboratory Group, which has locations on six continents and employs over 15,000 people. In Finland, ALS’ business has to date primarily focused on the analytics for the extractive industry and environmental field. Through acquisitions, ALS is strengthening its analytics services for the built environment. This acquisition expands both ALS’ and AHA-LAB’s analytics portfolio significantly and enables improved and more efficient customer service with a wider service offering.

3.9.2021

Valio – Acquisition of Heinon Tukku

We advised Valio in the purchase of all the shares of Heinon Tukku Oy from Tukkuheino Oy and other shareholders. The acquisition is part of Valio’s aim to be a more comprehensive partner to restaurant and coffee shop professionals. In the future, Valio will be a single-source supplier of everything a professional kitchen needs, providing not only an extensive selection of raw materials, but also support in product development and in creating meal and snack concepts. ‘Acquiring Heinon Tukku is a natural step that aligns with our strategy. Our goal is to be a front runner in food sector solutions, and Heinon Tukku’s know-how and broad product portfolio will bring a significant addition to this. We also share a similar set of values. Heinon Tukku is a traditional family-owned company, and Valio’s owners, in turn, are Finnish dairy farmers’, says Tuomas Sorri , who is the head of the new business unit created by the acquisition. Valio is a Finnish dairy and food group founded in 1905 and is owned by Finnish regional dairy co-operatives. Valio has subsidiaries in Russia, Sweden, the Baltics, the USA and China. It had net sales of EUR 1,787 million in 2019 and employs over 4,000 professionals. Heinon Tukku Oy has been in business for over 120 years and is today one of Finland’s largest wholesalers serving professional kitchens. Heinon Tukku’s turnover in 2020 was about EUR 170 million. About 340 employees will transfer to Valio through the acquisition. The transaction was approved by the Finnish Competition and Consumer Authority in June 2021.

1.7.2021

Grafton Group – Acquisition of IKH

We advised international building materials distributor and DIY retailer Grafton Group plc in its acquisition of Finnish Isojoen Konehalli Oy and Jokapaikka Oy (IKH). IKH is one of the largest workwear and personal protective equipment, tools, spare parts and accessories technical wholesalers and distributors in Finland. The consideration payable for IKH is EUR 199.3 million on a cash and debt-free basis. ‘The acquisition of IKH is an exciting development that gives Grafton a presence in Finland for the first time and broadens its market position. It will also strengthen the group’s operations in the mainland European market in line with our international development strategy. IKH is a high-quality business with a strong market position and an experienced management team that provides Grafton with a new growth platform in the Nordic Region. We look forward to welcoming the IKH management team and their colleagues to Grafton’, Gavin Slark , CEO of Grafton, comments. Our team, which includes members from several practice areas, advised Grafton in all legal aspects of the acquisition and negotiating the entire transaction documentation. Grafton Group plc is an international distributor of building materials to trade customers and has leading regional or national positions in the merchanting markets in the UK, Ireland and the Netherlands. Grafton trades from circa 550 branches and has circa 11,000 colleagues. Headquarters are located in Dublin, Ireland. Grafton is listed on the London Stock Exchange. IKH, a family owned business founded in 1956 and originally focused on agricultural spares and machinery, has approximately 400 employees and is headquartered in Kauhajoki, where its well-invested distribution and logistics centre is located. IKH is currently developing a market presence in Sweden and Estonia.

24.6.2021

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