We provide healthy food for people and the planet.

We provide healthy food for people and the planet by producing and marketing food that is healthy, both for people and the environment. Most of our products are plant-based or vegetarian and many are natural and organic.

Midsona develops and markets strong brands within health and well-being, with products that help people live a healthier and more sustainable life, with an increased understanding of the origin of the raw material and with transparency as to the content.
Stock price
Price
SEK
Market capitalization:
Price
MSEK
Days until report:
Stock ticker
MSON-B

Latest news

Latest report
All
Interim report, Jan-Sept 2024 test 5
Published on
October 22, 2024
Upcoming event
All
Interim report Q1 2026
2026-04-24
Latest press release
All
Midsona releases Q1 report 2024
March 5th, 2024

Q4 2025 highlights

Net sales, MSEK
933
(961)
Gross profit (excl. IAC), MSEK
267
(278)
Operating profit (excl. IAC), MSEK
47
(36)
Operating margin (excl. IAC), %
5.0
(3.7)
5 minutes with our CEO

8 April, 2026

Midsona at a glance

We provide healthy food for people and planet

We provide healthy food for people and planet by producing and marketing food that is healthy, both for people and the environment. Most of our products are plant-based or vegetarian and many are natural and organic.

We aspire to become the European leader in healthy and sustainable food, building on its success in the Nordic region.
CDP A

Midsona has once again been recognized for its climate strategy and leadership by the global non-profit environmental initiative CDP. For the second year in a row, Midsona has achieved the highest rating, A, in CDP’s ranking in the area of Climate Change.

Ambitious climate agenda

Midsona is committed to achieving net-zero by 2045, a goal validated by the Science Based Targets initiative. Its ambitious climate strategy has furthermore been recognized with CDP’s highest rating, A, for two consecutive years in the area of climate change.

CDP Disclosure Insight Action A List 2023 Climate badge in red and whiteCDP Climate A List 2024 badge with green accent on dark navy background
Our divisions
Division Nordics
66% of net sales in 2025
Division North Europe
24% of total sales in 2025
Division South Europe
10% of total sales in 2025
Our markets

The business is organised in three divisions: Division Nordics, Division North Europe and Division South Europe, which have operational responsibility for product development, production, marketing, sales and distribution to customers

01
Farmer harvesting fresh organic vegetables including carrots, beets, and leeks into wooden crate in garden
Clear position on long-term healthy food choices
Midsona’s strategy is based on a firm belief that demand for healthy and natural food will continue to grow. An increasing number of people want to take charge of their own health by choosing food products that are as pure as possible – without unnecessary additives and with a clear origin. Midsona believes in organic as the long-term sustainable way forward – for both people’s health and the food industry. Through Midsona’s clear position in health foods, organic products and plant-based food, the company is well equipped to meet a growing interest in food that combines great taste, quality and conscious choices. Midsona’s focus on healthy products will contribute to reducing climate impact. The food industry’s transition towards greater responsibility is essential to creating a society in need of increased resilience and resource efficiency.
02
European presence with strong local roots
Midsona combines a strong local presence with a European structure that fosters proximity, stability and synergies. Through established brands with deep roots in their respective markets, Midsona is close to consumers and can quickly identify local needs and trends. At the same time, the European presence provides a robust platform that reduces dependence on individual markets and enables effective knowledge sharing, synergies and economies of scale. The combination of local trust and European reach enables Midsona to create the right conditions for delivering long-term value to customers and consumers.
03
Unique portfolio of strong brands in leading positions
Midsona has a unique and broad portfolio comprising many well-known consumer brands. The Group’s ambition for its product range and development is, in line with its vision, to strive to become the European leader in healthy and sustainable food. The strategy for achieving this is based on developing power brands within attractive categories and securing a leading position in many selected sales channels. In the Nordics, Midsona has several brands with strong positions in their product categories. Acquisitions of strong brands in Germany, France and Spain have laid the foundations for future growth in the rest of Europe.
04
Stable platform that realises synergies
By improving the utilization of the shared platform for the Group’s brands, significant synergies can be realized. Greater coordination is taking place across several key areas: procurement and forecasting systems, production, distribution and product development. By optimizing and coordinating within these areas, opportunities are created for lower costs, more efficient product development, a more efficient value chain and a more competitive offering. The Group’s collective consumer insights into trends and behaviors form an important basis for ensuring a contemporary and relevant offering that is in tune with market needs. Overall, numerous initiatives are being pursued to realize synergies that strengthen profitability and create long-term value for shareholders.
05
Hands planting young basil seedlings in dark rich soil at an organic herb farm
Capacity to acquire and process
Midsona operates in a fragmented food market comprising many small and medium-sized players, which presents significant opportunities for consolidation. Midsona has built the Group that exists today based on a successful growth journey through acquisitions, which now forms a platform of trusted brands in the Nordic region and Europe. A major reorganization and streamlining of the organization are underway to achieve the long-term objectives. By acquiring, integrating and developing power brands, the Group’s objective is to create long-term value in the form of improved competitiveness, attractive products and greater shareholder value.

Our market and presence

Midsona is a leading company in health and well-being, with a strong presence in the Nordic region and expanding markets in Germany, France, and Spain. With a focus on natural, organic, and plant-based products, Midsona’s portfolio includes trusted brands like Urtekram, Kung Markatta, and Davert. Guided by sustainability and consumer health trends, Midsona is shaping the future of the food and wellness industries through innovation, responsible sourcing, and efficient value chain management.

Our divisions
Division North Europe
(DE)
Division South Europe
(FR, ES)
Division Nordics
(SE, NO, FI, DK)
Division Nordics
66% of total sales in 2025
Division North Europe
24% of total sales in 2025
Division South Europe
10% of total sales in 2025

External factors & drivers

After several years of economic uncertainty, the European market is now showing signs of stabilization. At the same time, interest in healthy and sustainable food choices is growing. In this development, Midsona stands strong, with a broad portfolio of products that meet consumers’ increasing demand for quality, nutrition, and sustainability.
  • The market is stabilizing after a period of uncertainty

    Following several years marked by high inflation, rising interest rates and an economic downturn – all of which have had a significant impact on consumers and their purchasing behavior – the European economy is now showing clear signs of stabilization. Inflation began to ease in 2024, and 2025 continued in the same positive direction with a more balanced price trend of around two per cent. This is a level that creates better conditions for both businesses and consumers. Although overall volume growth in the food industry remains low, forecasts from the European Commission indicate that the economy is gradually strengthening in certain geographical areas of Europe.

  • Continued price sensitivity – but not in all food categories

    When inflation has been high, it has been understandable that consumers have prioritized lower-priced food over more expensive alternatives that focus on organic, functional and high quality. This is beginning to change, and more consumers now value food that offers nutritional or health benefits. As many as 60 per cent of Nordic consumers say their food choices are driven by a desire to eat more nutritious food. Consumers’ desire to buy organic products remains strong, with around 70 per cent of consumers in the Nordics choosing organic products to some extent when shopping. Growth in the segment is being held back by persistently high food prices and a shift towards buying more local food. However, in an increasingly stabilized market, demand for organic, healthy and functional food is on the rise. As many as 69 per cent of global consumers believe that sustainability factors have become more important to them in recent years.

  • The focus on sustainable eating habits, both nationally and internationally

    Choosing sustainable and organic food is key to both public health and the environment. The IPCC highlights, among other things, sustainable agriculture and changing consumption habits – such as a more plant-based diet – as key factors for a sustainable future. Furthermore, both the Nordic Council of Ministers and the Swedish Food Agency have updated their dietary guidelines for 2025 to include increased intake of vegetables, whole grains and pulses, as well as reduced consumption of red meat. An increasing number of consumers are also choosing to cook vegetarian meals. Sustainable eating habits are seen as important both for the individual and for the planet. Similar trends are evident across the rest of Europe and globally.

  • Growing interest in natural foods and dietary supplements

    The market is creating several interesting opportunities for growth beyond mere volume – particularly within certain categories and sales channels. Interest in healthy, natural and function-oriented food, protein-rich products and products of high nutritional quality continue to rise. Interest in dietary supplements is also high. Half of Nordic consumers take vitamin supplements every day, and consumption of both protein-rich dairy products such as quark and cottage cheese, as well as protein bars, has increased significantly in recent years. Consumers are also increasingly demanding pure, natural products without unnecessary additives, driven by concerns about the impact of ultra-processed food on both individuals and the climate. This trend is particularly noticeable among younger consumers.

  • “Healthy snacking” – the latest trend

    A new generation of consumers is beginning to make its mark on the market. Products with great potential for this consumer group are healthy, functional and ready-to-eat items that are “on-the-go” and fit into their lifestyle. Studies show that as many as 77 per cent of global “Gen Z” buy food on the go every month. There is great potential in the “healthy snacking” category, where healthy snack alternatives are becoming increasingly popular. This trend is driven by several factors. Among other things, studies show that half of the Nordic population skips one meal a day, a habit potentially replaced by various alternative, easily accessible snacks. Furthermore, there is growing interest in snacks with health benefits, as well as plant-based, protein- and high in fibre, natural snacks.

  • Midsona’s multifaceted product portfolio meets the market where it is growing

    Consumers in Europe are slowly beginning to recover after several years of economic uncertainty marked by high inflation and rising prices. At the same time, healthy and sustainable choices are becoming increasingly central to consumers, creating new opportunities for players who can meet these needs. Although higher price levels sometimes dampen willingness to buy, there is a clear underlying interest in foods that combine nutrition, functionality and sustainability. This trend is particularly evident among younger consumers who actively seek products that support a healthy lifestyle.

    Midsona has a strong market position thanks to its broad and diversified product portfolio. This encompasses healthy and function-focused products, such as high-protein options and dietary supplements. The portfolio also includes updated and innovative solutions in ‘healthy snacking’, which meets the growing demand for convenient and nutritious snacks. Midsona also produces and supplies products under retail chains’ own brands, known as private label. Private label strengthens Midsona’s market presence, enables it to reach more consumer segments and complements the company’s own brands, whilst creating growth opportunities in affordable and sustainable product categories.

    Midsona is well positioned to capture further market share in segments where consumers are seeking products that combine quality, health, sustainability and value for money. The company’s clear strategy enables Midsona to continue driving progress towards a healthier and more sustainable future, where the success of the business rests on individual well-being and respect for the planet’s resources.

Targets & performance

Profitable growth
Target
3-5%
Organic sales growth*
Own brands >5%
Midsona's consumer brands account for ~63 percent of Group sales (2025)
Selective growth for private label and licensed brands
Outcome 2025
-0.1%
Organic sales growth
Outcome 2024
-0.7%
Organic sales growth
*Change in net sales in local currency, excluding acquired and/or businesses and/or brands
Higher margins
Target
>8%
Group’s EBIT* margin 2027
Higher share of sales from own brands
Strong cost synergies from Group-wide sourcing and specialised production
Profitability before volume for private label and licensed brands
Outcome 2025
3.7%
EBIT margin
Outcome 2024
3.4%
EBIT margin
*EBIT/Operating profit margin, before items affecting comparability
Capital structure
Target
<2.5x
Net debt/EBITDA*
Outcome 2025
1.1x
Net debt/EBITDA
Outcome 2024
1.6x
Net debt/EBITDA
*EBITDA, rolling 12 months including pro forma EBITDA from acquisitions and excluding acquisition related costs.

Targets & performance

Target
3-5%
Organic sales growth*
Own brands >5%
Midsona's consumer brands account for ~60 percent of Group sales (2023)
Selective growth for private label and licensed brands
Outcome 2023
-6.6%
Organic sales growth
*Change in net sales in local currency, excluding acquired and/or businesses and/or brands
Target
>8%
Group’s EBIT* margin 2027
Higher share of sales from own brands
Strong cost synergies from Group-wide sourcing and specialised production
Profitability before volume for private label and licensed brands
Outcome 2023
1.6%
EBIT margin
*EBIT/Operating profit margin, before items affecting comparability
Target
<2.5x
Net debt/EBITDA*
Outcome 2023
<2.7x
Net debt/EBITDA
*EBITDA, rolling 12 months including pro forma EBITDA from acquisitions and excluding acquisition related costs.
Net-zero CO₂e 2045
Target
0
tCO₂e
Outcome 2025
119 843
tCO₂e
Outcome 2024
119 897
tCO₂e

Strategy

Midsona has, through a growth journey involving several acquisitions, built a platform of well-established brands with strong positions in the Nordic region and Europe. The goal is to generate higher profitability and stable organic growth. In line with the strategy, a major coordination and efficiency program is underway to achieve the long-term objectives.
  • Invest behind selective power brands

    means prioritizing and investing in selected power brands that have the potential to become market leaders, thereby creating the conditions for long-term profitable growth in existing and new markets.

    Prioritera investeringar i utvalda starka varumärken medtydlig potential att bli marknadsledande och därigenom driva långsiktig lönsam tillväxt.
    Stärka varumärkenas konkurrenskraft och marginal ge-nom strategisk prissättning, varumärkesbyggande ochinsiktsdriven utveckling av erbjudandet.
    Accelerera tillväxten via fokuserad produktutveckling och expansion inom utvalda kategorier, kanaler och geografier, i kombination med förbättrad kostnadseffektivitet.
  • Leverage strong local positions

    means strengthening our presence in priority markets by winning the trust of customers and consumers within the sales channel and tailoring our product range and initiatives to local needs and market conditions.

    Innovera väl valda produkter och lyfta varumärken lokaltför att engagera kunder och konsumenter.
    Vinna i butikshyllan genom ett kundcentrerat angreppssätt.
    Utnyttja lokalt ägarskap och beslutsfattande nära konsu-ment och kund för att vinna mer relevanta erbjudanden.
    Etablera tydliga principer för egna varumärken permarknad, kopplade till finansiella ambitioner.
  • Cost and capital efficiency

    Midsona arbetar systematiskt för att stärka marginalerna och effektiviteten i hela värdekedjan. Genom koncern gemensamma initiativ inom prissättning, inköp och försörjning skapas en konkurrenskraftig och hållbar kostnadsstruktur. Samtidigt bidrar fokus på operativ excellens, bra prognoser och nära leverantörssamarbeten till en mer robust organisation som säkerställer rätt erbjudande till rätt pris.

    means strengthening margins and efficiency throughout the value chain. This will be achieved through joint initiatives in procurement and supply chain management, as well as operational excellence and close collaboration with suppliers, which ensures the right offering at the right price.

Financial overview

Capital %
Votes %
Stena Adactum AB
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12 månaders trend
48.13
%
46.9
%
Dec 23, 2025
Charles Jobson
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12 månaders trend
5.04
%
4.91
%
Jun 22, 2023
Rune Bro Róin
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This is some text inside of a div block.
12 månaders trend
2.64
%
3.67
%
Dec 23, 2025
Nordea Funds
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This is some text inside of a div block.
12 månaders trend
3.38
%
3.3
%
Dec 23, 2025
Avanza Pension
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This is some text inside of a div block.
12 månaders trend
3.13
%
3.11
%
Dec 23, 2025
Source: Monitor by Modular Finance AB. Compiled and processed data from various sources, including Euroclear, Morningstar and the Swedish Financial Supervisory Authority
MSON B

Our story

Wilh Sonesson
1892
Wilh Sonesson

Wilh Sonesson, founded in 1892 by Wilhelm Sonesson, began as a wholesaling and trading business in the engineering industry. Over the years, it has evolved, giving rise to several prominent industrial and listed companies. Listed on the Stockholm Stock Exchange since 1966 and re-listed in 1999, the company shifted its focus to health in 2001. After acquiring Midelfart in 2006, it was renamed Midelfart Sonesson AB in 2007, with its registered office returning to Malmö.

Midelfart
1923
Midelfart

Midelfart is a well-known Norwegian family firm established in 1923 by Ole Midelfart. The company, with registered office in Oslo, has been owned and managed by the Midelfart family for four generations and has a long tradition and great knowledge in health, beauty and well-being.

Midsona
2010
Midsona

On 7 December 2010, shareholders decided to rename the company Midsona, reflecting its history and new unified identity. A new logo and graphic design were introduced to position Midsona as a leading Nordic company in health and well-being, emphasizing modernity, innovation, and helping people lead healthier lives.

Urtekram
2015
Urtekram

Midsona acquired Danish company Urtekram International A/S in July 2015 and thus established Midsona in Denmark. Urtekram is the Nordic leader within organic food.

Internatural
2016
Internatural

Midsona's acquisition of Internatural AB - with proprietary brands Kung Markatta and Helios - in July 2016 was the largest acquisition to date and took Midsona one step closer to achieiving the vision of being the Nordic leader within health and well-being.

Bringwell
2017
Bringwell

In May 2017, Midsona presented a public takeover bid to the shareholders of Bringwell. As per July 2017, Midsona controls 98.2 percent of the total number of shares and votes and has requested redemption of the remaining shares.

Davert
2018
Davert

In 2018, we began our journey into the rest of Europe when we acquired Davert GmbH, a pioneer in the German organic food industry founded in 1984 by Rainer Welke. Davert's brand and products complement Midsona's existing organic portfolio well.

Eisblümerl, Ekko Gourmet, & Alimentation Santé
2019
Eisblümerl, Ekko Gourmet, & Alimentation Santé

In 2019, Midsona expanded its European presence in organic and plant-based foods through several strategic acquisitions. In July, it acquired Germany’s Eisblümerl Naturkost GmbH and Sweden’s Ekko Gourmet AB, enhancing its product portfolio in Germany and Sweden. In October, the acquisition of Alimentation Santé SAS further established its foothold in France and Spain with leading brands like Celnat, Vegetalia, and Happy Bio.

Gainomax & System Frugt
2020
Gainomax & System Frugt

In 2020, Midsona broadened its healthy food portfolio by acquiring the Swedish sports nutrition brand Gainomax and the Danish company behind the Earth Control brand. These acquisitions solidified its leadership in sports nutrition and plant-based foods in the Nordic market.

Vitality
2021
Vitality

In October 2021, Midsona acquired the Finnish company Vitality, including its subsidiaries, strengthening its position in Finland and expanding its health and wellness product range.

The Board of Midsona is the highest management body beneath the Annual General Meeting and is responsible for the organisation and management of Midsona's affairs. It shall primarily engage in the more overarching and long-term issues that are of substantial significance for the Group's future focus.

Henrik Hjalmarsson
President and CEO
Niclas Lundin
CFO
Marjolaine Cevoz-Goyat
President Division South Europe
Åsa Gavelstad
Chief Human Resources Officer
Heiko Hintze
President Division North Europe
Josefin Kronstrand
Director Sourcing
Tora Molander
General Counsel
Tobias Traneborn
Director Operations
Markus Wessner
President Division Nordics
Beatrice Perlman
Director Communication & Sustainability
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