Norway's Orkla has acquired the Polish sales and distribution company Ambasador92 through its subsidiary PGD SP. z o. o. for an undisclosed sum.
With this purchase, the group hopes to strengthen its presence in various sales channels in which Orkla Food Ingredients already holds a strong position.
Ambasador92 operates in the sale and distribution of bakery and confectionery products in northern Poland.
The company has a strong presence in the growing out-of-home channel, comprising bakers, confectioners, ice-cream producers, and in-store bakeries.
The company generated a turnover of PLN138 million (approx. NOK 315 million) in 2020 and grew by 17% in the past five years, with a steady increase in profitability.
The acquisition will see Ambasador92 become part of Orkla Food Ingredients, the company said.
'Strengthening Our Geographical Presence'
Johan Clarin, EVP and CEO of Orkla Food Ingredients, said, "The purchase of Ambasador92 increases our access to the growing out-of-home market.
"In addition, we are strengthening our geographical presence in the Polish market, thereby better enabling us to be a full-range supplier to nationwide customers."
Clarin added that the move could attract other businesses to work with Orkla in the Polish market due to the "possibility of positive potential synergies in warehousing, transport, procurement and sales."
Polish competition authorities have approved the transaction, Orkla added.
The company recently acquired 80% of the shares in Finnish foodservice company Seagood Oy Fort Deli.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.