NORWAY – Orkla Foods Sverige AB, a wholly owned subsidiary of Norwegian branded consumer goods conglomerate Orkla, has acquired PepsiCo’s breakfast cereals brand Havrefras for an undisclosed sum.
Orkla has been the distributor of Havrefras products for PepsiCo in Norway, Sweden and Denmark.The brand, whose portfolio includes Rug Fras and Mini Fras holds a strong market position in Scandinavian healthy breakfast cereals market.
Havrefras is market leader for healthy breakfast cereals in Denmark and Sweden and number two in Norway. First launched on the market in 1959, the brand has been part of PepsiCo since the company’s acquisition of The Quaker Oats Company in 2001.
Orkla said that the acquisition of Havrefras is in line with the company’s strategy of further developing a portfolio with a strong health profile. Ann-Beth Freuchen, EVP and CEO of Orkla Foods (Nordics and Baltics, noted that the acquisition will strengthen the company’s position in the Scandinavian grocery trade.
“Orkla holds a leading position in the Scandinavian grocery trade in a number of attractive categories. By acquiring Havrefras we have strengthened our portfolio with a well-known brand that is a great addition to our other breakfast products,” Freuchen said.
“Orkla is well known for its strong, local brands, and the acquisition of Havrefras is strategically appropriate for strengthening our position as leading branded consumer goods supplier. All the Havrefras products bear the Green Keyhole healthy food label and thus contribute to achieving Orkla’s goal of making everyday food healthier,” adds Orkla President & CEO Jaan Ivar Semlitsch.
Orkla said in a statement that the acquisition of the Havrefras brand and does not include any employees or production facilities adding that the company will continue to be the distributor of PepsiCo’s other juice, breakfast cereal and snack products in the Nordic region, including Tropicana, Naked, Cruesli, Snack a Jacks, Doritos, Lay’s and Bugles brands.