Orkla in Russia

In the Branded Consumer Goods area Orkla has two major companies; Krupskaya and SladCo, which hold leading market positions in chocolate and confectionery products in several regions of Russia. The companies’ total annual turnover is approximately NOK1.4 billion (€173 million) and they have around 3,500 employees.

Current portfolio approximately 400 Mill. USD, above 10% of Orkla’s total investment portfolio. Long term stock picking based on external information and internal analyses, no index management. Read more

From the mid 1990s Orkla played a vital role for ten years as one of two owners of the Baltika Breweries in St. Petersburg through Baltic Beverages Holding. Read more

Confectionery Group SladCo was established in 2001 and is now one of the largest confectionery producers in Russia. SladCo produces all types of confectionery products: chocolate, biscuits, wafers, etc. SladCo has a 5 per cent share of the Russian confectionery marked. Read more

Orkla now operates three large companies in the chocolate and confectionery sector: SladCo and Krupskaya in Russia and Nidar in Norway. This opens up possibilities for joint efforts to improve operations across national boundaries and between enterprises. Read more

Elkem has no production unit in Russia. The Elkem Representation office was established in Moscow in 1992, with approximately 10 employees today. Total sales in 2006 of close to USD30m; purchasing: USD10m. Read more

Russia has for a long time been an important market for Borregaard – particularly cellulosis until 1990/91. Borregaard has for periods had an own sales office in Moscow, but this is, however, not the case today. Some raw materials are imported from Russia (lignin base and wood), however to a limited extent. Borregaards sales to Russia was in 2006 around NOK22 m (€2.7m).

Jotun (42,5 per cent owned by Orkla) was established in Russia in 1989, operating through a representative office headed by Jotun Paints (Europe) Ltd. After several years of successful development, the Russian company Jotun Paints OOO in St. Petersburg was established in 2004. Øistein Hoem is the general manager and Esben Hersve the Chairman of the Board.

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(09.06.2007) Agreement between UC RUSAL and Elkem Aluminium
Today we announce that Elkem Aluminium has been chosen by UC RUSAL, one of the world's largest aluminium producers, to supply technology and know-how to their modernization programme.

(14.02.2007) Good end to an eventful year for Orkla
Orkla ended the year well and overall 2006 was thus a period of significant profit growth.

(05.04.2006) Orkla strengthens its presence in the Russian chocolate market
The Norwegian listed company Orkla has signed an agreement of buying more than 75 percent of the shares in CJSC Krupskaya Confectionery Company, a Russian chocolate company with a market leading position in St. Petersburg and northwest Russia.

(11.02.2005) Orkla's acquisition of SladCo approved
Orkla's acquisition of SladCo, a leading Russian manufacturer of chocolate and confectionery, has been approved by the Russian competition authorities, and the deal has now been closed.

(22.12.2004) Orkla acquires Russian confectionery company SladCo
Orkla is acquiring SladCo, a leading Russian confectionery manufacturer. The company will generate estimated revenues of approx. USD 160 million in 2004. SladCo Group has 4,000 employees.