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Orkla to invest in entrepreneurs

President and CEO Peter A. Ruzicka

President and CEO Peter A. Ruzicka

With a view to promoting innovation and creativity, Orkla has established Orkla Venture, opening up the possibility of investing directly in start-up companies. Orkla has allocated NOK 100 million to this initiative.

Orkla’s ambition is to build up a project portfolio consisting of exciting, relevant growth companies with significant potential. The investments will essentially be concentrated in the Nordic and Baltic regions, in line with Orkla’s other core business activities.

“We will primarily focus on business concepts linked to consumer-related products, services, ingredients and processes, as well as the digitalisation of both goods flow and communication. A feature common to all the projects will be that they have an industrial logic and a potential that could be relevant for the future Orkla,” says President and CEO Peter A. Ruzicka.

Orkla Venture will be established as a separate entity under Orkla Investments and will have the same relationship with partners as an ordinary venture fund.

“We believe that Orkla can be an attractive investor capable of contributing not only funding, but also industrial expertise from every part of the value chain,” Mr Ruzicka says.

Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordic and Baltic regions and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and its head office is in Oslo. In 2015, the Group had a total turnover of approximately NOK 33 billion, and 14,670 employees at year end.