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.
In the lead-up to the world-famous Oktoberfest – which celebrates Bavarian tradition, beer and the festival spirit – Munich was already buzzing with activity by the time the doors opened to Drinktec 2022 on 12-16 September. The atmosphere was lively, with approximately 50,000 visitors from 169 countries in attendance.
Unilever has announced CEO Alan Jope’s decision to retire from the company at the end of 2023, after five years at the helm. The announcement comes 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.
Lakeland Dairies has announced that Colin Kelly will assume the role of group CEO following the retirement of Michael Hanley at the end of the year. Kelly will take up the position in January 2023, while Hanley will step down in December this year.