Orkla Food Ingredients has announced the acquisition of a majority stake in Hadecoup, in a move that 'strengthens its position' in ice cream ingredients and accessories in the Benelux region, the company said in a statement.
Orkla made the acquisition of 70% of the shares in the Belgian firm through its wholly-owned subsidiary Idun Industri AS.
Following the transaction, Hadecoup will become part of NIC Group, a business within the Orkla Food Ingredients business segment.
'Substantial Increase' In Customer Base
“Hadecoup will expand NIC Group’s reach by substantially increasing its customer base in the Benelux region," commented Johan Clarin, Orkla EVP and CEO of Orkla Food Ingredients.
"This acquisition enables the Group to strengthen its position in Europe in line with Orkla Food Ingredients’ strategy. Hadecoup is already a customer of several companies in the NIC Group and hence we know the company and the product portfolio well."
Hadecoup reported operating profits (EBIT) of €1.3 million (approx. NOK 13 million) in 2021.
The business was established in 1976 and its headquarters is located in Herk-de-Stad outside Brussels, Belgium. Following the deal, its current chief executive will remain in his position, and he and his family will retain 30% of the shares in the business.
Orkla has a right to purchase the remaining shares over the next five years, it said in a statement.
Both Orkla and Hadecoup have agreed not to disclose the purchase price. Hadecoup will be consolidated into Orkla’s financial statements as of 1 April 2022.
Orkla has been busy on the acquisition front recently, announcing the purchase of Healthspan Group Limited, a supplier of dietary supplements, last month, following on from its acquisition of Vesterålen Marine Olje AS in January.
© 2022 European Supermarket Magazine – your source for the latest A-brands news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.