Taaleri Bioindustry invests €10M in Finnish Food Factory to bolster plant-based dairy growth

Taaleri Bioindustry Fund I is investing €10 million (US$11.64 million) in Finnish Food Factory, a rapidly growing contract manufacturer of plant-based dairy products.

Finnish Food Factory specializes in producing plant-based dairy alternatives for global and Nordic brands, including Fazer. Its turnover increased more than tenfold from 2020 (€1.2 million (US$1.39 million)) to 2024 (€13.5 million (US$15.72 million)). This growth is underpinned by a broad customer base and the company’s ability to deliver high-quality, competitive products efficiently and on schedule.

With this investment, Finnish Food Factory is expected to expand its production capabilities, driving long-term growth and broader market reach. The Article 9 fund supports the transition toward more sustainable, plant-based dairy production. The carbon footprint of oat milk is significantly lower than that of conventionally produced cow’s milk.

“We are pleased to begin our collaboration with the Finnish Food Factory. With its experienced team, the company has successfully grown in both local and international markets while consistently delivering reliable production and value-added to its global customers,” says Marjatta Rytömaa, managing director at Taaleri Bioindustry.

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

The investment is Taaleri Bioindustry Fund I’s sixth. The fund has raised over €100 million (US$116.5 million) in commitments, of which approximately half have been deployed.

Innova Market Insights data indicates that 40% of consumers globally have increased their protein intake, driving innovation in alternative plant-based proteins. 

Oats have been a key ingredient in the NPD space over the past few years, often being popularized with consumers for their plant-based and vegan-friendly positioning. The market researcher’s data indicates a 5% increase in vegan food and beverage launches between April 2020 and March 2025.