Orkla Acquires Fudge And Toffee Supplier, Confection by Design
Norwegian food company Orkla has acquired British fudge and toffee manufacturer Confection by Design, through its subsidiary NIC Enterprises Limited.
The companies have not disclosed financial details of the deal.
Tor Osmundsen, the CEO of NIC Group, said, "The purchase of Confection by Design is strategically right and will complement Orkla Food Ingredients’ position as a supplier of inclusions and accessories to the bakery, chocolate, and ice cream market."
Established in 1988, Confection by Design is a privately-owned business that employs around 35 people.
It supplies fudge and toffee to ice cream manufacturers, bakeries and confectioners.
Approximately two-thirds of its portfolio is distributed by Orkla’s UK subsidiary, Orchard Valley Foods.
The company’s headquarters and production facilities are located in Harrogate in the UK.
Confection by Design sells almost 80% of its products in the UK, while it exports around 20% to other countries.
The company saw a growth in turnover to £5.7 million (€6.36 million) in its financial year ending 30 June 2019.
A Leading Supplier
Orkla Food Ingredients is one of the leading suppliers of bakery ingredients and ice cream ingredients and accessories in the Nordic region, as well as selected countries in Europe.
It has acquired a solid position in the UK through its subsidiaries NIC UK, Orchard Valley Foods, and County Confectionery.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.