Through its wholly-owned subsidiary Orkla Foods Sverige, Orkla has signed and completed an agreement to purchase Lecora, a Swedish manufacturer of frozen and chilled vegan and vegetarian dishes.
Lecora is also market leader for schnitzel, in addition to offering ready meals. A substantial proportion of its product range is organic. The out-of-home sector is its largest customer group, but the company also has some sales to the grocery trade.
"Orkla holds a leading position in the Swedish grocery trade, in numerous food categories. With the purchase of Lecora we are strengthening our out-of-home business and expanding our portfolio of organic, vegan and vegetarian food products," says Henrik Julin, CEO of Orkla Food Sverige.
Lecora, which was established in 1963, is a family-owned company with 35 employees. The company is headed by Tommy Salomonsson and his two children, and the business has its headquarters and a factory in Vadstena, Sweden.
- Lecora's sustainability work and use of local ingredients make our ambitions for sustainability even greater. Lecora is a strong brand that we will develop further, and we value its local approach and the trust customers and consumers have in their products, Henrik Julin concludes.
The company had a turnover of SEK 95.9 million (approx. NOK 88.2 million) in 2018, and EBIT of SEK 5.9 million (approx. NOK 5.4 million). The turnover is primarily generated in Sweden, but the company also has some export sales to the EU.
The company will be consolidated into Orkla's financial statements from 1 April 2019.
The parties have agreed not to disclose the purchase price.
Orkla is a leading supplier of branded consumer goods and concept solutions to the consumer, 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 headquarters is in Oslo. In 2018, the Group had a turnover of NOK 41 billion, and approximately 18,500 employees as of 31 December 2018.
Oslo, 29 March 2019
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