POLAND— Norway-based food group Orkla has entered an agreement to acquire 74% of the shares in Da Grasso, one of Poland’s leading pizza franchise chains.
Da Grasso, which operates 193 outlets in the country, generated sales worth €53 million (US$52.8 million) in 2021. The company’s turnover amounted to €13.6 million (US$13.5 million), while normalized EBITDA amounted to €2.5 million (US$2.49 million).
Thomas Ljungqvist, executive vice president and acting CEO of Orkla consumer and financial investments, said, “Da Grasso is a well-run business that has built an impressive position in the growing Polish pizza market. We are very pleased to partner with the founder and CEO of Da Grasso to continue developing the concept and expand the network.
“Through closer collaboration with our existing pizza platforms, we are confident that we will build stronger businesses on our way to becoming one of the leading pizza franchise companies in Europe.”
Orkla is a supplier of branded products and concept solutions to the consumer, catering and bakery markets in the Nordic, Baltic and selected markets in Central Europe and India.
Da Grasso is a well-run business that has built an impressive position in the growing Polish pizza market. We are very pleased to partner with the founder and CEO of Da Grasso to continue developing the concept and expand the network
In July, Orkla’s new CEO Nils Selte launched “analysis” of the group’s operating model to “actively decide whether to invest, hold or divest assets”, opening the door to potential asset disposals.
The company is keen to be major player in the European pizza market and has carried out a series of transactions in this sector since 2018. Last October, it bought the Germany-based Flying Pizza and Planet Planet chains through its New York Pizza business. That deal came just a month after Orkla acquired another German pizza chain, Stückwerk.
Following the DaGrasso deal, Orkla’s network will consist of 860 franchise pizza outlets in Finland, Benelux, Germany and Poland.
The deal is expected to close in the fourth quarter, Orkla noted. Following the transaction, current owners Karolina Rozwandowicz (95%) and the CEO Magdalena Piróg (5%) will continue as shareholders in partnership with Orkla. Other minority shareholders will own the remaining shares.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE
