Orkla has entered into an agreement to purchase the Swiss ingredients firm Hans Kaspar, in a deal that will 'strengthen its position' in the confectionery and ice cream ingredients segments.
Hans Kaspar, which is headquartered outside Zurich, specialises in the production of specialty ingredients for chocolate and ice cream producers. More than half of its revenues come from international sales.
The transaction is expected to close in the third quarter of 2021, and both parties have agreed not to disclose the purchase price.
The acquisition follows a number of recent transactions made by Orkla, including a majority stake in the New York Pizza chain, the purchase of NutraQ, and the acquisition of Icelandic confectionery firm Nói-Siríus HF.
'Adapted To Modern Consumer Trends'
“Hans Kaspar offers high-quality, specialty ingredients based on natural raw materials, adapted to modern consumer trends," commented Orkla president and CEO Jaan Ivar Semlitsch.
"As a well-established company, with a long history, Hans Kaspar has customer relationships with several of Europe’s leading chocolate and ice cream manufacturers. The company has a strong position in a segment that Orkla knows well through our ingredients business."
Integration Of Hans Kaspar Business
Following the completion of the transaction, the Hans Kaspar business will be integrated into the Orkla Food Ingredients business, and become part of OV Group (formerly Orchard Valley Foods), which also includes firms such as Candeco, Confection by Design and Cake Décor.
Hans Kaspar’s senior executives will remain in the company after completion of the transaction, Orkla said.
“Hans Kaspar will expand OV Group’s geographical footprint and will enable OV Group to grow its position in Europe in line with Orkla Food Ingredients’ strategy," commented Johan Clarin, Orkla EVP and CEO of Orkla Food Ingredients.
"At the same time, Hans Kaspar’s premium products will complement OV Group’s existing product portfolio."
Hans Kaspar reported turnover of CHF 13.3 million (approx €12.26 million) in 2020.