The Danish competitions authorities have approved Orkla Foods Danmark's agreement with Kavli Holding AS to purchase O. Kavli A/S. The take-over will have effect as of today.
Orkla Foods Danmark takes over O. Kavli A/S completely.
O. Kavli will be fully integrated in Orkla Foods Danmark and it is expected that the integration will be completed within a period of 6 months.
O. Kavli generated sales of DKK 170 million in 2014 and has 70 employees distributed between an office in Hvidovre and a factory in Ringkøbing. Kavli's portfolio comprises the brands Fun, Grønnegården, Kavli, Scoop and Blomberg's Glögg. Since Orkla already owns the Fun brand in the other Nordic countries, the agreement gives Orkla full ownership of Fun in the Nordic region.
"We are pleased that the acquisition has now been approved and we look forward to begin integrating Kavli's portfolio into Orkla Foods Danmark," says Tino Bendix, CEO at Orkla Foods Danmark.
Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordics, the Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and has its head office in Oslo. In 2015, the Group had a turnover of around NOK 32 billion and 14,670 employees at year-end.
Oslo, 1 March 2016
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