The daily brief: 17 September 2019

Finnish wellness company Func Food Group is being acquired by US-based Celsius Holding, known for the Celsius fitness drink brand. Celsius is to pay 15.1 million US dollars in cash (approx. 13.7 million euros) and take over Func Food’s outstanding debt of 9.5 million US dollars (approx. 8.6 million euros). Func Food markets and distributes beverages, protein bars, supplements and superfoods, and it has been the Nordic distributor of Celsius fitness drinks since 2016. Image: Twitter/Celsius

Finnish company LAK Real Estate is constructing Finland’s largest hotel complex at Helsinki Airport, which is currently undergoing a one billion-euro development programme. The 13-storey hotel will have more than 700 rooms, meeting and conference space, a sky bar, and direct connections to the airport and train station. Norwegian company Nordic Choice Hotels will be responsible for operations at the hotel once it’s up and running. Image: Finavia

Finland-based Pro Farm Technologies has been acquired by Marrone Bio Innovations for an enterprise value of 31.8 million US dollars (approx. 29 million euros), of which 6.2 million US dollars was paid in cash and the rest in 12.7 million Marrone Bio shares. The deal could also include payments of up to 7.5 million US dollars worth of Marrone Bio shares, if certain commercial milestones are reached. Pro Farm will add proprietary nutrient and biostimulant technology, as well as seed and foliar treatment products, to Marrone Bio’s portfolio. Image: Pexels

Finnish car dealership Veho is acquiring Estonia’s Silberauto, which imports and sells Mercedes-Benz and other car brands in Estonia and Lithuania. Silberauto’s revenue was 387 million euros in 2018, and it employs over 550 people. The company will continue to operate as a separate company following the acquisition, which still needs to be approved by competition authorities and Daimler. Image: Veho