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Acquisition of Jordan now completed

Acquisition of Jordan now completed

From left: Kåre Myrvåg, CFO Strategy & Business Development Jordan, Per-Arnfinn Brekke CEO Jordan, Jan Ove Rivenes CEO Orkla Brands Nordic, Espen E. Wiik SVP Branded Goods Investments Orkla ASA

“We at Orkla are very pleased that the purchase of Jordan has been completed. Now we can start work on the process of designing a new, even more competitive organisation,” says Jan Ove Rivenes, CEO Orkla Brands Nordic.

The agreement to acquire Jordan, which is a leading branded consumer goods company in the oral hygiene, household cleaning and painting tools segments, was entered into on 22 June. The Norwegian Competition Authority approved the acquisition on 27 August and the transaction was completed on 31 August.

Work will now commence on merging Jordan Personal & Home Care and Lilleborg. Jordan Personal & Home Care focuses on oral hygiene and household cleaning products sold through grocery retailers and pharmacies. The Jordan House Care AS division, which covers painting tools and cleaning products for the professional trade, will become part of Branded Consumer Goods Investments in Orkla.

Supplement each other

“Like Jordan Personal & Home Care, Lilleborg also holds a strong position in the oral hygiene and cleaning segments. The two companies supplement each other, and our aim is now to create a stronger, more efficient and more competitive company. Lilleborg needs Jordan and Jordan needs Lilleborg,” declares Rivenes.

He points out that the company now being welcomed into the Orkla Group is an enterprise with long-standing traditions and strong branded consumer goods. Jordan was established in 1837 and is celebrating its 175th anniversary this year.

“We are both happy and humble that we now have Jordan on our team. In the months ahead, we will devote time to gaining an insight into the company’s challenges, possibilities and expertise. We want to talk to as many employees as possible. The involvement of Jordan’s management, employee representatives and employees will be extremely important in the phase that we are now entering,” says Rivenes.

Full strength

The process of developing a new organisation will have high priority in Orkla. A special steering group, headed by Rivenes, has been appointed and will comprise resource personnel from both Orkla and Jordan. In a transitional phase up until 1 January 2013, Jordan Personal & Home Care will remain the operative company with its own board.

“While we are working to build a new organisation, it is crucial that Jordan’s regular operations continue at full strength. All activities that have been planned must be carried out with the Jordan dynamism to which its customers and business partners are accustomed,” emphasises Rivenes.

He is impressed by the way all of Jordan’s competent employees have maintained focus on “business as usual” after learning at the end of June that Orkla had bought the company.

“I am glad that we will be embarking together on the essential and exciting process that lies ahead, in which we will seek to optimise our organisation so as to develop Jordan as a strong brand in a wide range of markets,” says Jan Ove Rivenes in conclusion.

Branded Consumer Goods Investments (BGI), of which Jordan House Care AS is to become a part, is a new unit created with a view to strengthening Orkla’s business development. In acquisition situations where companies or parts of a business do not fall within the scope of Orkla’s existing business areas, these will be transferred to BGI.