Orkla Foods set to acquire majority stake in package food company Eastern Condiments

INDIA – Orkla, a Branded Consumer Goods business, through its wholly owned subsidiary MTR Foods Private Limited, has signed agreements to purchase a 67.8 per cent ownership stake in Eastern Condiments Private Limited, a package food company. Orkla will acquire 41.8 per cent from members of the Meeran family and will acquire the entire ownership stake held by McCormick Ingredients SE Asia PTE. Ltd, which will give Orkla a 67.8 per cent ownership stake after completion of the transactions. Eastern is currently owned by the Meeran family (74 per cent)…

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Orkla Foods acquires PepsiCo’s breakfast cereal brand Havrefras

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…

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Orkla appoints Jaan Ivar Semlitsch as new President and CEO

NORWAY – Orkla, the Norwegian branded consumer goods conglomerate has appointed Jaan Ivar Semlitsch as the firm’s new President and Chief Executive Officer (CEO), effective 1 December. He succeeds Peter A. Ruzicka, who left the company on May 7 and was replaced by Terje Andersen who has served as acting President and CEO. Jaan joins Orkla from Dixons Carphone Plc, where he has been CEO of Elkjop Nordic for more than six years. For the past year, he has also been in charge and CEO of Dixons Carphone’s International operations.…

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Orkla opens new office headquarters to house its business units in Norway

NORWAY – Leading Norwegian consumer goods company, Orkla has moved its headquarters to a new building in Oslo, Norway where it will house all its business units in Norway. The new offices were inaugurated by Minister of Trade and Industry Torbjørn Røe Isaksen and will be a workplace of more than 900 Orkla employees. The new 24,000 square metre building is divided between three sections of five, seven and 16 storeys and features state-of-the-art facilities to company employees. According to Chairman of Orkla’s Board of Directors, Stein Erik Hagen, the…

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Orkla Foods acquires 90% stake in Danish Easyfood for US$50m

DENMARK – Orkla Foods Danmark A/S has announced that it has agreed to acquire 90% of the shares in Easyfood A/S, a Danish producer of bread-based convenience products for the out-of-home channel at a purchase price valued at US$50.2 million (DKK 330 million). The agreement is subject to the approval of the Danish competition authorities and will see Flemming Paasch, one of the present owners remain in the company as CEO and minority shareholder. The company whose exports outside Denmark accounts for 14% of turnover is also owned by Hemming…

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