The British competition authorities have approved Orkla's purchase of L.G. Harris & Co. Limited («Harris»). Completion of the agreement is expected to take place within 1-2 months.

In a press release of 3 May 2016, Orkla announced that it had entered into an agreement to acquire Harris, a leading supplier of Do-It-Yourself painting tools in the UK.

The approval of the British competition authorities on 28 July concludes the review of the agreement under competition law.

Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordics, the Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and has its head office in Oslo. In 2015, the Group had a turnover of NOK 33 billion, and 14,670 employees at year-end.

Orkla ASA
Oslo, 29 July 2016

Ref.:

Group Director Corporate Communications and Corporate Affairs
Håkon Mageli
Tel.: +47 928 45 828
Email: hakon.mageli@orkla.no

SVP Investor Relations
Mattias Orrenius
Tel.: +47 983 66 334
Email: mattias.orrenius@orkla.no

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)