Nuffoods Spectrum India

Orkla to expand product portfolio across Europe

01 April 2019 | News

Norway’s Orkla has announced acquisitions as it looks to expand its portfolio of brands across Europe.

Through its wholly-owned subsidiary Orkla Food Ingredients AS, Orkla has entered into an agreement to purchase the majority of the shares in the Greek company Stelios Kanakis Industrial and Commercial S.A. (Kanakis). Kanakis is market leader in the sale and distribution of confectionery, bakery and ice cream ingredients in Greece.

Orkla has entered into an agreement to acquire approx. 65.8% from Stelios and Maria Kanakis at a purchase price per share of EUR 4.35.

Orkla has also signed and completed an agreement to purchase Lecora, a Swedish manufacturer of frozen and chilled vegan and vegetarian dishes, through its wholly-owned subsidiary Orkla Foods Sverige.

Lecora is also market leader for schnitzel, in addition to offering ready meals. A substantial proportion of its product range is organic.

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