As 2026 approaches, it will be three years since the most significant change in Fennoaqua’s history: the change of ownership. Now is a good time to pause and look back before continuing the journey – with our sights firmly set on the future.

Tomi Kantola

Since the 2023 acquisition, Fennoaqua has worked hard to get the new company up and running. At the same time, it has successfully carried out its core business, i.e., the production and sale of fish feed.

“Now, after almost three years, it finally feels like the company’s structures, systems, and everything else are in order. We can start with a clean slate and focus on what we were hired to do. I believe that 2026 will be Fennoaqua’s first normal year,” says CEO Tomi Kantola with relief.

Acquisitions saved the Finnish fish feed industry

There have been two significant acquisitions in Fennoaqua’s recent history. In 2023, Alltech Corporation, Finnforel Oy, and Heino Group acquired Fennoaqua. Two years later, in July 2025, Alltech Corporation bought Finnforel’s share, so Alltech now owns 95.1% of Fennoaqua and Heino Group owns 4.9%.

“If we think about where we started in 2023, we can say that Alltech, Finnforel, and the Heino consortium saved the Finnish fish feed industry. This year’s deal further strengthened Fennoaqua’s resources and brought more stability to the company’s future. Alltech CEO Mark Lyons has had a huge impact on Finnish fish farming, as he has already made two very significant investments in the Finnish fish feed industry and fish farming,” says Kantola.

According to Kantola, Alltech is here to stay. Customers also have strong confidence in the current owner. Alltech’s investment in Fennoaqua is clearly visible, for example, in the new office premises to which the company will move on February 15, 2026.

“Our main owner is a family business that does not have a listed company mentality. We have been given the freedom to create and maintain our own operating culture and systems. For example, we have built our own HR system.”

Cooperation within the group works excellently. For example, cooperation has opened entirely new research and product development resources.

”Our German sister company, Alltech Coppens, in particular, has been by our side from day one. They had already gone through a similar acquisition process before us, and we have received a lot of support and help from them, especially from Coppens’ CEO Ronald Faber.”

The commercial teams of Alltech Fennoaqua and Alltech Coppens gathered in Kasnäs in July 2025.

Further volume growth expected

Even amid all the turmoil, Fennoaqua has increased sales by up to 37% since 2023. The outlook is very bright, and the company has strong opportunities for significant volume growth over the next three years.

“We have gained several new market areas with significant growth potential. Our products are currently exported to 13 countries, 10 of which are new,” Kantola says happily.

However, strong sales have not yet been reflected in the company’s results, which continue to be burdened by one-off costs associated with its establishment.

Top-class personnel

Fennoaqua personnel posed for a group photo at Aquafest in February 2025.

Changes and acquisitions have put Fennoaqua and its personnel through quite a bit of turmoil.

“Someone once warned me that I should prepare for the changes and challenges following a corporate acquisition by multiplying by ten everything I thought and imagined would happen in connection with it. Well, now I can say from experience that the multiplier is more like 100,” Kantola laughs.

He praises the staff and their commitment profusely.

“Few organisations would have survived all this, but our team is top-notch: we’ve stuck together. No one has left us, and instead we’ve gained some new top talent and even one returnee.”

Recruitment will continue, as new sales areas, volume growth, and structural adjustments increase the need for new employees.

”After the acquisition, we quickly made some decisions, such as outsourcing certain functions, and these structures have now been dismantled. We prefer to hire our own employees for many tasks.”