Through its wholly owned subsidiary Cederroth, Orkla has entered into an agreement to sell the Allévo brand to Karo Bio AB.
The Allévo brand consists of a product portfolio within weight management, and is owned by the Swedish branded consumer goods company Cederroth. Allévo generates an annual turnover of approx. SEK 62 million.
Orkla acquired Cederroth earlier this year, and the transaction was approved by the competition authorities subject to divestment of the Allévo brand, resulting in today’s sale agreement.
The agreement is subject to the approval of the Swedish competition authorities.
Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.
A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.