Orkla acquires distributor of Asian ingredients in Sweden
Through its partly-owned subsidiary Werners Gourmetservice AB ("Werners"), Orkla Food Ingredients has signed and completed an agreement to purchase the Swedish sales and distribution company Bo Risberg Import AB ("Risberg").
Risberg has a strong position in high-growth categories in Sweden, supplying products such as Asian spices, sauces, spice mixes and other high-quality flavourings. Approximately half of the company's sales revenue comes from its well-regarded own brand, Risberg.
A considerable proportion of the company's sales are made to hotels, restaurants and caterers. Risberg is also an important supplier to the Swedish grocery sector and the food industry.
Werners is well-known for its gourmet products, including truffles, caviar, chocolate, espresso coffee, desserts, spices and oils, and primarily sells to restaurants and confectioners. The purchase of Risberg expands Werners' product portfolio in attractive categories.
"Risberg is well-run company with a recognised brand. It has a strong position in the growing out-of-home channel which rounds out Orkla Food Ingredients' position in the bakery, confectioner's and coffee shop segments," says Thore Svensson, Senior Vice President Orkla Food Ingredients S&D.
Risberg was founded in 1976, and is currently owned by CEO Björn Vestlund and Sören Storm. The company, which leases its head office and warehouse in Huddinge, outside Stockholm, Sweden, has five permanent employees.
Risberg has grown strongly in recent years, and achieved turnover of SEK 83 million (approximately NOK 77 million) in 2018.
The company will be consolidated into Orkla's accounts as of 1 June 2019.
The parties have agreed not to disclose the purchase price.
About Orkla
Orkla is a leading supplier of branded consumer goods and concept solutions for the consumer, out-of-home and bakery markets in the Nordic region, the Baltics and selected markets in Central Europe and India. Orkla is listed on Oslo Stock Exchange and is headquartered in Oslo. In 2018, the group achieved turnover of NOK 41 billion and had approximately 18,500 employees.
About Orkla Food Ingredients
Orkla Food Ingredients is the leading bakery ingredients player in the Nordic region, in addition to holding growing market positions in selected countries in Europe. Its biggest product categories are yeast, butter blends, plant-based foods, marzipan and margarine. Orkla Food Ingredients has sales and distribution companies in 21 countries, ensuring proximity to bakeries and other industrial customers.
Orkla ASA
Oslo, 7 June 2019
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