Orkla Foods Romania acquires Ardealul

28.02.2005: Orkla Foods Romania (OFR) has acquired 100% of the shares of Ardealul srl, the second largest Romanian company specialized in pâté and canned meat.

Ardealul reported about NOK 83 million (EUR 10 million) in net revenues in 2004 and employs nearly 200 people. 
"The acquisition is in line with Orkla's long-term strategy for growth in the region," says Knut Johannessen, managing director of Orkla Foods International. "Ardealul is a well-run business in an interesting sector for Orkla," says Aliz Kosza, Chief Executive Officer of Orkla Foods Romania.

Ardealul was established in the Romanian market in 1994, as a brand and as a company. The company has a modern production technology. All the facilities and conditions meet the food safety standards required by the European Union.

Ardealul has been owned by Ovidiu Costea and Staicu Olteanu, two successful entrepreneurs with a considerable experience in the meat industry. The personnel, including the management team, have agreed to stay with the company after Orkla's acquisition.

"We have built up the business virtually from scratch, so we are very fond of it and of its people," says Ovidiu Costea. "Orkla will add on more value to Ardealul, developing both the company and the brand," says Staicu Olteanu.
The two parties decided not to disclose the value of the transaction.
The completion is pending on the approval by the Competition Council of Romania.

The Orkla Group is one of the largest listed companies in Norway. Operating revenues totalled NOK 32.1 billion in 2004 (approx. EUR 4 billion). The Orkla Group entered the Romanian market in 2002 through the acquisition of Topway Food. OFR is the market leader in all the segments where it operates. OFR has the following brands: Bunatati de la Bunica, TOMI, TOMI Snek-up, Wiesana and Frühstück si La Minut.