Orkla Food Ingredients has signed an agreement to purchase 100 percent of the shares in Arne B. Corneliussen, a leading manufacturer and supplier to the Norwegian food industry.
The company’s product portfolio consists of spices, marinades, flavorings, starter cultures and other functional ingredients, in addition to packaging solutions. Its customer market is Norwegian food manufacturers with the Norwegian meat industry as the main segment.
Orkla Food Ingredients is the leading bakery ingredients player in the Nordic region, supplying products such as margarine and butter blends, yeast, bread and cake improvers and mixes, marzipan and ice cream ingredients. In acquiring Arne B. Corneliussen, the business area will expand its product range and customer base in Norway.
“This acquisition gives us access to a new growth platform in the food industry. The purchase of Arne B. Corneliussen also offers a potential for synergies with our existing ingredients operations in Norway, in the form of a more strategic focus on the out-of-home sector as well as savings in areas such as purchasing and distribution,” says Pål Eikeland, Orkla EVP and CEO of Orkla Food Ingredients.
“We have had nothing but good experiences during our period as owners of Arne B. Corneliussen, but the time has now come to concentrate our operations. We think that a Norwegian owner will be positive for the company, and we look forward to continuing the close collaboration between DAT-Schaub and Arne B. Corneliussen,” says Jan Roelsgaard, CEO of DAT-Schaub.
The parties have agreed not to disclose the purchase price. The agreement is subject to the approval of the Norwegian competition authorities.
Source: Food Ingredients First
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