Sponsor Capital buys up Myllyn Paras

Myllyn Paras, a Hyvinkää, Finland-based manufacturer of grain-based products, announced getting into an agreement for selling the majority share package to private equity firm Sponsor Capital. The agreement includes Mylly's Best Business in Finland and two production facilities in Hyvinkää.

Myllyn Paras also owns a factory in Moscow, Russia, which is not part of the agreement.

The deal was made with Pekka Savela, who has been the head and sole owner of Myllyn Paras for 30 years. He will continue at the helm of the Myllyn Paras Russian business.

The financial details of the transaction remain undisclosed.

Myllyn Paras Oy, founded in 1928 and led by CEO Kirsi Vesterinen, is a Finnish manufacturer of grain-based products, such as flour, flakes, brans, pasta, groats, frozen dough and pastry, and frozen bakery goods. The company recorded about EUR 40M ($48M) in revenues in the 2016 fiscal year.