Orkla Foods acquires Polish seafood company
Orkla Foods has reached a deal on the acquisition of a 51 per cent stake in the Polish company Superfish, the market leader on herring and frozen fish in the Polish grocery sector. The acquisition is subject to approval by Orklas Board of Directors in August.
The economic development i Poland is showing a positive trend, and the market for processed seafood is climbing. Superfish is a well-run company with good product distribution reporting annual sales of approx. NOK 650 million.
- Orkla Foods is keen to step up activities in Poland. Abba Seafoods seafood expertise will contribute towards developing Superfish activities throughout the value chain, says Orkla Foods MD Håkon Chr. Andersen.
Superfish products are sold under the brand Superfish, which enjoys a strong position in the minds of the consumers. The company has four production plants in Northern Poland with a total of about 1000 employees.
According to plan, the acquisition is to take place in September. Until 2008 succsessively, Orkla Foods is entitled to buying the remaining shares. The parties have agreed not to disclose the acquisition price.
Since the mid-eighties, Abba Seafood has been exporting seafood to Poland, where Orkla Foods has been established since the acquisition of Kotlin in 1997.
Orkla Foods is the leading Nordic developer, producer and marketer of foods. The company comprises the divisions Stabburet, Procordia Food, Beauvais, Felix Abba, Orkla Foods International, Abba Seafood and Orkla Food Ingredients. Operating income totalled NOK 10 billion in 1999.