Orkla's acquisition of NP Foods now completed
Orkla's acquisition of NP Foods Group, which includes the companies and brands Laima, Staburadze, Staburadzes Konditoreja, Gutta, Saldumu tirdznieciba, NP Logistics and Margiris has now been completed.
The agreement to acquire 100% of the shares in the companies held by Nordic Partners Food Ltd* was entered into on 26 August 2014. The competition law assessment of the agreement was finalised on 12 February, and the transaction was completed on 11 March 2015.
"We are very pleased that the purchase of NP Foods has now been completed. The acquisition of Laima and other well-established brands will significantly strengthen Orkla's presence in the Baltic region," says Christer B. Åberg, EVP and CEO of Orkla Confectionery & Snacks.
With a history dating back more than 145 years, Laima is one of the strongest chocolate and confectionery brands in the Baltic region. The local Selga, Staburadze, Gutta, Everest, Fresh walk, Pedro, Mammas and Old Town Bakery brands will also reinforce Orkla's positions in the Baltic biscuits, cakes, juice, water and ready meals markets.
In 2014, NP Foods had a turnover of EUR 80 million and 1,100 employees. The company has four factories in Latvia and one in Lithuania.
"This acquisition is strategically important to Orkla. We will nearly double the scale of our Baltic operations, making Orkla one of the largest suppliers of consumer goods to the Baltic grocery sector," says Christer B. Åberg.
"Becoming part of Orkla means that NP Foods will gain access to extensive brand expertise and work with highly qualified product development, innovation and marketing professionals. This will open new doors for the company and enable us to further develop our strong, long-established brands," says NP Foods CEO Rolands Gulbis.
Orkla already holds strong positions in the chocolate, confectionery, ready meals and ketchup markets in the Baltics through the branded consumer goods companies Spilva and Latfood (Latvia), Kalev and Põltsamaa Felix (Estonia) and Suslavicius-Felix (Lithuania).
*The companies in Nordic Partners Food Ltd are AS Gutta, NP Foods SIA, AS Staburadze, AS Laima, UAB Margiris and SIA Detente.
Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery and out-of-home sectors in the Nordic and Baltic regions. In addition, the Group holds good positions in certain product categories in India, the Czech Republic and Austria. The company is also a major supplier to the European bakery market. Orkla ASA is listed on the Oslo Stock Exchange and headquartered in Oslo, Norway. As of 31 December 2014, the Group had a turnover of NOK 30 billion and 13,000 employees.
Oslo, 12 March 2015
For further information, please contact:
Christer Åberg, EVP and CEO of Orkla Confectionery & Snacks
Mobile: +47 907 10 709
Håkon Mageli, Group Director Corporate Communications and Corporate Affairs
Mobile +47 928 45 828
If you have questions regarding practical matters, please contact our Latvian liason:
Toms Didrihsons, Integration Manager
Mobile: +371 29 269 368