Orkla invests in branded health drink

Orkla has signed and completed an agreement to purchase 43.5% of the shares of the Portuguese company Asteriscos e Reticências, S.A. The company produces fermented tea-based health drinks that are sold all over Europe under the Captain Kombucha brand.

Captain Kombucha is a lightly sparkling fermented drink made from black or green tea. It contains no preservatives, artificial sweeteners or artificial flavours. The drink is organic, vegan and gluten-free, and is growing in popularity due to its health-promoting properties and good taste.

"In investing in the Captain Kombucha brand we are putting our money on a new and increasingly popular product. The probiotics and organic acids it contains have a positive effect on gut health, which is one of Orkla's priority areas," says Orkla EVP and Orkla Foods International CEO Johan Wilhelmsson, who will be Chairman of the Board of the company known for the Captain Kombucha brand.

Captain Kombucha was established in 2016, and the company is headquartered in Lisbon, Portugal. The business is currently owned by the two founders (85%) and the German venture capital firm Doehler Ventures (15%), which is financed and supported by the ingredients manufacturer Doehler. After completion of the transaction, the founders will retain an interest of 48.5%, and Doehler will reduce its ownership share to 7.9%.

The company's turnover rose from EUR 0.9 million (approx. NOK 9 million) in the start-up year 2017 to EUR 3.1 million (approx. NOK 30 million) in 2018.

Orkla's stake will be accounted for using the equity method 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.

Orkla ASA
Oslo, 29 March 2019

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