Through its wholly-owned subsidiary Orkla Foods Sverige AB, Orkla has signed and completed an agreement with PepsiCo, Inc. (“PepsiCo”) to purchase the Havrefras brand, including Rug Fras and Mini Fras, which holds a strong market position in Scandinavia in healthy breakfast cereals.
Orkla currently distributes Havrefras products for PepsiCo in Norway, Sweden and Denmark.
“Orkla is well known for its strong, local brands, and the acquisition of Havrefras is strategically appropriate for strengthening our position as leading branded consumer goods supplier. All the Havrefras products bear the Green Keyhole healthy food label and thus contribute to achieving Orkla’s goal of making everyday food healthier, says Orkla President & CEO Jaan Ivar Semlitsch.
“Orkla holds a leading position in the Scandinavian grocery trade in a number of attractive categories. By acquiring Havrefras we have strengthened our portfolio with a well-known brand that is a great addition to our other breakfast products,” says Ann-Beth Freuchen, EVP and CEO of Orkla Foods (Nordics and Baltics).
Havrefras is market leader for healthy breakfast cereals in Denmark and Sweden and number two in Norway. First launched on the market in 1959, the brand has been part of PepsiCo since the company’s acquisition of The Quaker Oats Company in 2001. The acquisition of Havrefras is in line with Orkla’s strategy of further developing a portfolio with a strong health profile.
The agreement concerns the purchase of the Havrefras brand and does not include any employees or production facilities. The parties have agreed not to disclose the purchase price.
Orkla will continue to be the distributor of PepsiCo’s other juice, breakfast cereal and snack products in the Nordic region, including Tropicana, Naked, Cruesli, Snack a Jacks, Doritos, Lay’s and Bugles brands.
SVP Communications, Orkla ASA
+47 916 65 078
VP Investor Relations
+47 951 41 147