Bakers to acquire Martin Nordby

22.12.2005: Bakers AS is to acquire a 100% holding in Martin Nordby AS.

Martin Nordby AS  supplies a broad selection of fresh bakery and pastry products to the catering and grocery market in the east of Norway and also has 20 retail bakery outlets of its own.
 
Martin Nordby's administration and central production plant are located at Furuset in Oslo. The company had a turnover of approximately NOK 126 million in 2004 and provides the equivalent of around 125 full-time positions. The company has experienced a positive development in the last few years.
 
The seller is Marby Eiendom AS, which is owned by the Nordby family. The parties have agreed not to disclose the purchase price.
 
- We will be providing a specialised bakery service at Furuset in order to cover the requirements of catering and food service clients in the east of Norway, says Bakers managing director Roar Hoel. - Further development of Martin Nordby's broad assortment of specialised bread products is also planned for the grocery market. This is part of our strategic response to the steadily growing competition from imports. We will also be taking steps to strengthen our cafes and retail bakery outlets. Together, Martin Nordby and Bakers will have 25 retail outlets of their own which will be co-ordinated under a single management team and a common profile, says Hoel.
 
The acquisition agreement will take effect from the turn of the year and is subject to the approval of the competition authorities.  
 
Bakers is a wholly owned subsidiary of Orkla. The company has a leading position in the production, development and marketing of bread and bakery products, as well as cakes, potato-based pancakes and griddle cakes. The annual turnover is in the order of
NOK 1.5 billion and the company provides the equivalent of roughly 900 full-time positions.