Oslo / NO. (ok) Orkla Foods Danmark has signed an agreement with Kavli Holding AS to purchase O. Kavli A/S. The acquisition further reinforces Orkla Foods Danmark’s branded consumer goods portfolio. The agreement provides for a complete takeover of O. Kavli A/S, a significant supplier to the Danish grocery market with a product portfolio that includes well-known brands. O. Kavli generated sales of 170 million DKK in 2014. The company has 70 employees distributed between an office in Hvidovre and a factory in Ringkøbing. O. Kavli was founded in Bergen, Norway in 1893, and its Danish operation was launched in 1935. O. Kavli is owned by Kavli Holding AS. «Our acquisition of O. Kavli represents an investment in the beverages category and an extension of our groceries portfolio. The company’s products complement our existing product range. Further, O. Kavli has a private label and an export business with long-term customer relations. We look forward to adding beverages to the portfolio», says Atle Vidar Nagel-Johansen, Executive Vice President and CEO Orkla Foods. «We are pleased to have found a solid buyer for O. Kavli in Denmark, and are confident that Orkla Foods Danmark has the resources to contribute to a profitable growth of the company», says Erik Volden, CEO of Kavli Holding AS. Implementation of the agreement is conditional on approval from the Danish competition authorities. The transaction is expected to be completed by the end of February 2016.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center