Kavli is our unconventional owner
The Kavli Trust channels its profits to charity
Through a business transaction carried out by Verso Food in 2019, we came under the ownership of the Norwegian corporation Kavli, whose business principles are unconventional to say the least.
The Kavli Trust that governs Kavli annually channels to charity all of the corporation’s profits that are left over after the companies’ development and management costs. In recent years, the donations have risen significantly, with the 2018 and 2019 figures at more than EUR 10 million.
We also get to do our part!
Some of the donation recipients are decided by Kavli’s employees, so also we at Verso Food have had the chance to participate in a good deed. Together with Kavli Finland, we donated EUR 89,000 to promoting family caregivers, child welfare services and mental health work in Finland in 2019.
The majority of the recipients of the donations are decided independently by the trust’s board, separately from the corporation’s other operations.
In 1962, Knut Kavli, following in his father’s footsteps at the head of the company, decided to establish the Kavli Trust. The childless son of the Kavli founding family transferred the entire ownership of the company to the trust. The rules of the trust stated that the profit of the corporation had to be channelled into charitable acts. More precisely it said that the trust would not simply be part of Kavli’s business operations, but instead the entire raison d’être of the company.
Of the annually donated amount, 60% is always focused on humanitarian work, especially promoting women’s and children’s health, education and entrepreneurship. Scientific research receives 30% of the donations and 10% goes to the advancement of culture.
Seventy per cent of the donations are made in Kavli’s home countries Norway, Sweden, Finland and the UK. The rest is used for advancing development cooperation in Asia and Sub-Saharan Africa. Currently, the Kavli Trust is involved in roughly 70 projects in altogether 20 countries.
Read more about the Kavli Trust’s principles and the projects it enables: