Idun Industri acquires 77% of Marcantonio Foods Ltd
Idun Industri AS has entered into an agreement to purchase a majority share in Marcantonio Foods Ltd, thereby strengthening its focus on ice cream accessories and ingredients in the UK.
Marcantonio Foods is a family-run company with roots dating back to 1895. The company is a leading supplier of accessories and ingredients for ice cream parlours and ice cream manufacturers in the UK. The company has a production facility for ice cream cones and wafers in Barking, outside London. In 2011, Marcantonio Foods had a turnover of GBP 7.6 million. The company employs a total of 55 persons. The Marcantonio family will remain co-owners and continue to participate in the further management and development of the company.
“Through the purchase of Marcantonio Foods, Idun Industri is gaining an exciting opportunity to develop its position as supplier to the British ice cream industry. Since 2010, we have had a presence through Call Caterlink, and we are now further strengthening our range of offerings. In future, both companies will continue to work to offer high-quality services and products, and to be customers’ preferred supplier,” declares Tor Osmundsen, Director of Idun Industri’s ice cream operations.
“Marcantonio Foods has a long history and a strong name in the ice cream industry. We believe that Idun Industri, with the acquisition of Marcantonio Foods and through its existing operations, is well-positioned to become the leading supplier in the UK. The Marcantonio family looks forward to being a part of this process,” says Philip Marcantonio, Managing Director of Marcantonio Foods.
The parties have agreed not to disclose the purchase price.
Idun Industri is a leading supplier of bakery ingredients for bakeries, confectioneries and the food industry in the Nordic region. The company has seven subsidiaries and had a turnover of NOK 950 million in 2011. Idun Industri is part of Orkla Food Ingredients.