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Idun Industri AS acquires 51% of the shares in Italiensk Bakeri AS

Idun Industri AS acquires 51% of the shares in Italiensk Bakeri AS, and strengthens its position in the bake-off segment.

Italiensk Bakeri AS is an artisan bakery with focus on Italian products. The company had a turnover of 10 MNOK and 13 employees in 2014.

- By acquiring this position, Idun will strengthen its position in the bake-off segment, and offer premium Italian products to the entire Norwegian bakery market. We will continue pursuing the artisan focus, however specialised on Italian products and mainly focaccia, says bake-off director Øyvind Øverdal in Idun Industri AS.

- Finding a new owner that can contribute to growth and continue maintaining our high service level, has been important for Italiensk Bakeri. We are therefore very pleased to have Idun on board as the majority owner, says Ettore Lo Monaco from Italiensk Bakeri AS.

The parties have agreed not to publish the purchase amount.

Idun Industri AS is a producer and supplier of baking ingredients, service articles, and bake-off to the Norwegian bakery market. The company had a turnover of 820 MNOK and 135 employees in 2014.

Idun Industri AS is 100% owned by Orkla ASA.

For more information, please contact:
Øyvind Øverdal, director bake-off in Idun Industri AS
Phone: +47 928 49 389

Ettore Lo Monaco, general manager in Italiensk Bakeri AS
Phone: +47 916 91 672

Oslo, 2 July 2015