Orkla expands in sports nutrition
Through its wholly-owned Swedish subsidiary Health and Sports Nutrition Group AB (HSNG), Orkla Care has signed and completed an agreement to purchase 100 per cent of the shares in Proteinfabrikken AS.
In 2014, Orkla Care purchased a 16.7 per cent minority shareholding in Proteinfabrikken. This interest is included in the sale to HSNG, together with the interests of the other shareholders.
A broad range of self-developed sports nutrition products are sold under the PF brand. In addition to its own products, Proteinfabrikken sells and distributes a variety of other sports nutrition, food and fitness equipment brands and products.
“HSNG holds a strong position in Sweden, while Proteinfabrikken has a strong presence in Norway. Together, the companies will be a good fit, both in terms of their product portfolios and by giving us a solid base in Scandinavia,” says Johan Görgård, CEO of HSNG.
Proteinfabrikken has seven employees and its headquarter is located in Stokke in Vestfold, Norway. The company was established in 2001 and its founder, Bjørn Kenneth Hansen, has been the main shareholder while Orkla Care has been the second largest shareholder since 2014.
In 2019, Proteinfabrikken had a turnover of NOK 82 million, and most of the sales go to Norway. Around half of the sales are made through the company’s own online store.
The company will be consolidated into Orkla’s financial statements as of 1 January 2021. 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. In 2019, the Group had a turnover of NOK 43.6 billion, and approximately 18,500 employees as of 31 December 2019.
Health and Sports Nutrition Group AB (HSNG) sells a broad range of sports nutrition, health food, fitness equipment and food brands and products through its online stores Gymgrossisten, Bodystore and Fitnessmarket. Since January 2018, HSNG has been a part of Orkla and belongs to the Orkla Care business area. HSNG is headquartered in Solna outside Stockholm, and its turnover totalled SEK 732 million in 2019.
Oslo, 11 January 2021
Dag Olav Stokken
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SVP Investor Relations
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