Idun Industri AS is buying all of the shares in Frima Vafler AS in Denmark. The seller is Givesco AS.
Frima Vafler is a production and sales company that offers a broad range of ice cream cones and waffle baskets, toppings and accessories for ice cream parlours and stands, the catering sector and the ice cream industry. The company holds a strong position on the Danish domestic market, and also exports to several countries including Norway and Sweden.
The acquisition also comprises JB Våfflan AB, a wholly-owned subsidiary of Frima Vafler. JB Våfflan manufactures and sells ice cream cone products primarily for the Swedish market, and is located in Strömsund, Sweden.
Frima Vafler is located in Tilst, near Århus. In 2006 the company had a turnover of approx. NOK 40 million and a workforce of 45 employees, including its subsidiary JB Våfflan.
The acquisition will be effective as of 1 January 2008.
Idun Industri already owns the Swedish companies Confektyr AB og Nimatopaal AB, which supply products to the Nordic ice cream parlour and ice cream market.
"Our acquisition of Frima Vafler will strengthen our position on the Nordic market for ice cream toppings and accessories. Frima Vafler's product range and standard of quality will complement the products manufactured by our current companies," says Jone Voll, Managing Director of Idun Industri.
Carsten Hoffmann will continue as Managing Director of Frima Vafler.
Idun Industri is Norway's leading supplier of ingredients for bakeries and the food industry, and sells yeast and marzipan through the grocery trade. Idun Industri is part of the Idun Group, which also includes Candeco Confektyr AB and Nimatopaal AB. In 2006 the Idun Group had a turnover of approx. NOK. 542 millioner kroner and a workforce equivalent to 150 man-years. Its head office is in Hvam, north of Oslo. The Idun Group is part of Orkla Food Ingredients.
For more information, please contact:
Jone Voll, Managing Director, Idun Industri - Tel. + 47 22 09 48 99 - Mob. + 47 93 41 59 00
Pål Østensvig, Business Area Director - Tel + 47 22 09 48 70 - Mob. + 47 92 84 58 36
Carsten Hoffman, Managing Director, Frima Vafler - Tel. + 45 70 26 25 11 - Mob.+ 45 40 29 11 22