Through its wholly owned subsidiary Cederroth, Orkla has entered into an agreement to sell the Allévo brand to Karo Bio AB.
The Allévo brand consists of a product portfolio within weight management, and is owned by the Swedish branded consumer goods company Cederroth. Allévo generates an annual turnover of approx. SEK 62 million.
Orkla acquired Cederroth earlier this year, and the transaction was approved by the competition authorities subject to divestment of the Allévo brand, resulting in today’s sale agreement.
The agreement is subject to the approval of the Swedish competition authorities.
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 2014, the Group had a turnover of around NOK 30 billion and approximately 13,000 employees at year-end.