Sector News

Orkla offers to buy restaurant chain Kotipizza for 146m euros

November 22, 2018
Consumer Packaged Goods

Orkla has made an offer to acquire the owner of Finnish restaurant chain Kotipizza, Kotipizza Group, for approximately €146.1 million.

Kotipizza was established in 1987 and is one of the leading pizza restaurant chains in Finland, with around 280 restaurants in the country.

If the transaction is completed, Orkla will also acquire Kotipizza Group-owned wholesale company Helsinki Foodstock Oy as part of the deal. Helsinki Foodstock Oy supplies ingredients to Kotipizza Group’s restaurant chains and other external customers.

The acquisition is subject to regulatory approval, and if the transaction is completed Kotipizza will retain its current management team and operate as an independent unit within Orkla.

Kotipizza Group registered net sales of €84.1 million in 2017, and Orkla says that the acquisition will help it increase its presence in the “growing” Finnish restaurant market and stimulate growth beyond its grocery offering.

Orkla president & CEO Peter Ruzicka said: “Kotipizza Group is a well-run company with competent management and a well-functioning franchise model.

“The acquisition of Kotipizza Group is in line with our strategic ambition to increase our presence in channels with faster growth than traditional grocery, and we see a good match between the two companies.”

By Martin White

Source: FoodBev

comments closed

Related News

February 25, 2024

The Body Shop faces store closures, layoffs and ingredient surplus after Aurelius acquisition

Consumer Packaged Goods

Recent reports reveal The Body Shop will shut up to half of its 198 stores in the UK and cut the size of its head office, incurring hundreds of job losses. According to the firm overseeing the restructuring of the beauty retailer, closures will begin this Tuesday.

February 25, 2024

Kroger and Albertsons face lawsuits to block $24.6bn merger – Bloomberg

Consumer Packaged Goods

Amidst brewing tensions, the US Federal Trade Commission (FTC) and a coalition of states are poised to take legal action as early as next week, aiming to prevent grocery giant Kroger’s $24.6 billion acquisition bid for Albertsons, Bloomberg reported.

February 25, 2024

Diageo reportedly in talks to offload trio of brands, including Pimm’s

Consumer Packaged Goods

The owner of Guinness and Baileys has hired financial service group Rothschild to explore the sale, which includes Pimm’s, fruit liqueur brand Safari and Pampero rum. Each brand could be offloaded individually or as a three, according to Sky News.

How can we help you?

We're easy to reach