Orkla To Acquire Bakery Ingredients Supplier Zeelandia Sweden
Finland's Orkla has announced that it has agreed to purchase bakery ingredients supplier Zeelandia Sweden AB through its wholly-owned subsidiary Orkla Food Ingredients AS.
Zeelandia Sweden supplies margarine, vegetable oils, and bakery ingredients to the Swedish market.
Orkla executive vice-president and chief executive of Orkla Food Ingredients, Johan Clarin, said, "The acquisition of Zeelandia Sweden AB is strategically right for strengthening Orkla’s position and production capabilities in our Nordic home markets in categories with which Orkla Food Ingredients is very familiar."
After the transaction is complete, the company will be renamed as Credin Sverige AB, and will be a part of the Credin Group.
Other financial details of the deal have not been disclosed.
The agreement is subject to the approval of the Swedish competition authorities.
In 2018, Zeelandia Sweden reported a turnover of €22.9 million.
It employs around 60 people with production facilities located in Stenkullen, near Gothenburg in Sweden.
Presently, it is owned by the Dutch company Koninklijke Zeelandia Groep B.V., which was established in 1900 by the Doeleman family.
© 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.