Sector News

Orkla aquires cone maker Waverley Bakery

March 1, 2016
Food & Drink

Through its wholly-owned subsidiary Idun Industri AS, Orkla Food Ingredients has purchased The Waverley Bakery Limited, a leading supplier of ice cream cones, wafers and accessories in the UK.

Waverley primarily sells ice cream cones and wafers to the grocery sector in the UK. The company also offers ice cream cones, ingredients and accessories to ice cream parlours and small-scale ice cream manufacturers. OFI is one of Europe’s leading suppliers of ice cream ingredients and accessories, with a presence in the Nordic region, Germany, the Netherlands and the UK. With the acquisition of Waverley, OFI is strengthening its market position in ice cream cones and wafers, ingredients and accessories in the UK. The acquisition also adds the grocery trade as a sales channel for OFI in the UK.

“This acquisition is in line with Orkla’s aim of growing in selected categories and markets where we see a potential for further growth and synergies. The acquisition of Waverley gives Orkla Food Ingredients a leading position in the market for ice cream ingredients and accessories in the UK,” says Pål Eikeland, Orkla SVP and CEO of Orkla Food Ingredients.

Waverley Bakery has been a well-known name in the Scottish ice cream industry for more than 100 years. The company is part of Lee’s Foods Group. The business is located in Glasgow, Scotland, and has around 45 employees. The company achieved a turnover of GBP 5.9 million (approx. NOK 72 million) in 2015 and EBITDA of GBP 0.7 million (approx. NOK 8.7 million). Waverley Bakery is valued at GBP 5.2 million (approx. NOK 63 million) on a debt-free basis.

Source: Orkla

Related News

February 21, 2021

Zero Waste Europe and ECOS tell EU “mass balance approach” is damaging plastics circular economy

Food & Drink

The signatories delivered a joint letter yesterday evening to the EC advising it to establish a “transparent, ambitious, and circular ‘chain of custody’” method instead.

February 21, 2021

Beyond the Bag Challenge reveals nine winners: “No single answer” to plastic bag pollution crisis

Food & Drink

Funded with US$15 million, the competition took off last July, prompting “suppliers, designers and problem-solvers” to submit environmentally sustainable design solutions and standard plastic bag alternatives.

February 21, 2021

Carlsberg to trial low-carbon glass beer bottles

Food & Drink

Carlsberg Marston’s Brewing Company has partnered with Encirc to trial a glass beer bottle that has the potential to cut the carbon impact of its bottles by up to 90%.

Send this to a friend