Orkla Food Ingredients has, through its wholly owned subsidiary Eisunion GmbH, signed and completed an agreement to purchase 100% of the shares in the German sales and distribution company Eis Ludwig Gräbner GmbH ("Eis Gräbner"). With the acquisition of Eis Gräbner, Orkla Food Ingredients will strengthen its position as a supplier of ice cream ingredients and accessories.
Orkla Food Ingredients is one of Europe's leading suppliers of ice cream ingredients and accessories, with a presence in the Nordic region, Germany, the Netherlands and the UK. With the acquisition of Eisunion GmbH in 2015, Orkla Food Ingredients established a strong market position in southern Germany. Eis Gräbner is based in northern Germany, and thus complements Eisunion's geographical presence.
"The purchase of Eis Gräbner complements Orkla's current position in the ice cream ingredients and accessories segment in Germany. The acquisition offers potential for expanding our product range, broadening our distribution and realising synergies with our present operations," says Pål Eikeland, EVP and CEO of Orkla Food Ingredients.
Eis Gräbner is a privately owned company established in 1929 and has 18 employees. The company's head office and warehouse are located in Hannover, Germany. In 2016, Eis Gräbner had a turnover of EUR 6.5 million (approx. NOK 61 million). Several cost measures have been identified and will be implemented over the next two years.
The company will be consolidated into Orkla's financial statements as of 1 May 2017. The parties have agreed not to disclose the purchase price.
Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordics, Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and its head office is in Oslo. In 2016, the Group had a turnover of approximately NOK 38 billion, and 18,000 employees at year end.
About Orkla Food Ingredients
Orkla Food Ingredients is the leading bakery ingredients player in the Nordic region, in addition to holding growing market positions in selected countries in Europe. Its biggest product categories are margarine and butter blends, yeast, bread and cake improvers and mixes, marzipan and ice cream ingredients. Orkla Food Ingredients has sales and distribution companies in 22 countries, ensuring proximity to bakeries and other industrial customers.
Oslo, 5 May 2017
IR & Communications Manager
Tel.: +47 951 41 147