Orkla acquires UK companies Cake Décor and For All Baking
Orkla Food Ingredients has signed and completed an agreement to purchase Cake Décor Limited (Cake Décor) and For All Baking Limited (FAB). The companies manufacture and sell cake decorations and accessories for online sale, bakeries and grocery retailers from their headquarters in Glasgow, Scotland.
Through its wholly-owned subsidiary NIC Enterprises Limited, Orkla Food Ingredients has entered into an agreement to purchase 100 per cent of the shares in the two companies Cake Décor and FAB.
Cake Décor is a well-established player in cake decorations, sprinkles and accessories for the home baking, artisan bakery and food service markets. The majority of its sales are made to consumers through the UK grocery trade.
FAB is behind Sprinkles & Co., Cake Décor’s e-commerce business that caters especially to artisan bakeries. FAB also has growing direct-to-consumer sales through Amazon and eBay.
Cake Décor was established in 2006 and its headquarters, production and warehouse facilities are located in Glasgow, Scotland. The business is owned and headed by the main shareholder, Bill Donnelly. The company’s management will remain in their present roles, including Bill Donnelly who will continue to serve as Managing Director for two years.
The company had 98 employees and a turnover of GBP 14.4 million (approx. NOK 168 million) in 2020. The company will be consolidated into Orkla’s financial statements as of 1 May 2021.
In the UK, Orkla is active in the home-baking sector through the OV Group. The acquisition of Cake Décor and FAB will allow Orkla in the UK to expand into related products and offer a greater range to its core customers.
The parties have agreed not to disclose the purchase price.
Orkla is a leading supplier of branded consumer goods and concept solutions to the consumer, out-of-home and bakery markets in the Nordics, Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and its headquarters is in Oslo. The Group had a turnover of NOK 47.1 billion in 2020, and currently has just over 21,000 employees.
Orkla Food Ingredients
Orkla Food Ingredients is the leading player in the Nordic bakery and ice cream ingredients sector, in addition to holding solid market positions in selected countries in Europe. Its biggest product categories are bakery and ice cream ingredients, margarine and butter blends, marzipan and plant-based food products. Orkla Food Ingredients has sales and distribution companies in 22 countries, ensuring proximity to customers.
Oslo, 30 April 2021
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