Orkla Foods is selling its shares in Superfish. The buyer is the Polish company Graal S.A.
Under the agreement, Graal is to take over all the shares in Superfish. Graal is a listed group and a leading player in the fish product and fish processing industry in Poland. The company also exports to other European countries, the USA and Jamaica.
Superfish has been extensively reorganised since Orkla Foods took over the company in 2000. The number of man-years has been significantly reduced, and the company's product portfolio has been concentrated on a smaller number of more profitable products.
"Nevertheless, we are not satisfied with the financial growth and market position that we have achieved on the Polish market. We therefore believe that a new owner who already has substantial operations in this category can help to enhance the company's future possibilities on the Polish market. Orkla Foods considered it important to find a buyer who take the company further," says Uwe Birkkjær, Managing Director of Orkla Foods CEE.
Orkla Foods' operations in Poland also include the companies Kotlin and Elbro. These companies will remain under Orkla Foods' ownership.
Superfish is a leading manufacturer of frozen, refrigerated and tinned fish products in Poland, under the Superfish, Abba and Barka brands. The company has two modern factories located in Kolobrzeg in northern Poland, and had a turnover of around NOK 250 million and 400 employees in 2006.
The deal is subject to the approval of the Polish competition authorities.
Orkla Foods is a leading developer, marketer and supplier of food products in the Nordic region, and has also established operations in Central and Eastern Europe and Russia. In 2006, Orkla Foods had a turnover of NOK 14,266 million and 11,182 employees. Orkla Foods CEE consists of Orkla Foods Romania, Guseppe (Czech Republic), Superfish, Kotlin and Elbro (Poland) and Felix Austria. Orkla Foods CEE reported a total turnover of NOK 1,090 million in 2006, and employed a workforce equivalent to 1,546 man-years at year-end.
For further information, please contact:
Uwe Birkkjær, Managing Director Orkla Foods CEE, Tel.: + 43 664 415 5559
Håkon Mageli, Director Corporate Affairs, Orkla Foods, Tel: + 47 928 45 828