Orkla Foods Norge has signed an agreement with the newly established company Indian Gourmet AS on the sale of the SaritaS brand. The purpose of the sale is to simplify the portfolio and concentrate on selected priority areas.
The agreement concerns full disposal of the SaritaS brand, which has a product portfolio consisting of sauces and ready meals.
Indian Gourmet AS is owned by the privately owned companies Taste of India AS (50 per cent) and Janton AS (50 per cent). Taste of India AS is owned by the founders of the SaritaS brand, Sarita Sehjpal and Raj Sharma.
SaritaS became part of Orkla through the acquisition of Rieber & Søn in 2013, after Rieber & Søn purchased the brand from Sarita Sehjpal and Raj Sharma in 2012. Orkla’s net sales revenues from SaritaS products totalled NOK ~20 million in 2019.
“Sarita and Raj have played a unique role in developing the culture of Indian food in Norway, and we are delighted that they will continue to build the SaritaS brand in partnership with Janton AS. The sale is part of Orkla’s strategy to concentrate resources on our priority growth areas,” says Paul Jordahl, CEO of Orkla Foods Norway.
The parties have agreed not to disclose the selling price. The agreement will take effect as of 2 March 2020.
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 2019, the Group had a turnover of NOK 43.6 billion, and approximately 18,500 employees as of 31 December 2019.
Oslo, 18 February 2020
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