Orkla’s acquisition of Hamé, a leading branded food company in the Czech Republic and Slovakia, has now been completed.
The acquisition of Hamé doubles Orkla’s turnover in Central Europe.
The agreement for the acquisition of Hamé was signed on 10 December 2015. The agreement was approved by all relevant competition authorities on 16 March 2016 and the transaction was completed on 31 March 2016.
“We are very pleased that the acquisition of Hamé has now been completed. This acquisition makes Orkla one of the leading FMCG players in attractive markets in Central Europe,” says President & CEO Peter A. Ruzicka.
Hamé holds strong positions in many categories that are a good fit with Orkla’s current portfolio. In the Czech Republic and Slovakia, Hamé has leading positions in the categories pâtés, ready meals, ketchup, preserved vegetables, jams and baby food. The product portfolio includes iconic brands like Hamé, Májka, Znojmia, Hamánek and Otma. Hamé also has strong positions in pâtés in Hungary, Romania and Russia.
“With Hamé and Vitana, Orkla will be an attractive supplier to the grocery sector in the Czech Republic and Slovakia, and the transaction also strengthens our activities in Romania. A stronger foothold in Central Europe positions Orkla well for further growth in these markets,” says Atle Vidar Nagel-Johansen, Orkla EVP and CEO of Orkla Foods.
Prior to the transaction, Orkla’s presence in Central Europe consisted of the companies Vitana (Czech Republic and Slovakia), Felix Austria and Orkla Foods Romania.
”Orkla’s acquisition is good news for Hamé and its future. In its further growth, Hamé can rely on a large and experienced strategic owner that will support long-term innovation, brand building and the company’s overall development. Hamé’s strong position in the region and its potential for further growth will help Orkla to develop its position in these markets and categories,” says Hamé CEO Martin Strupl.
Hamé has approximately 2.400 employees and ten factories. The company’s headquarters is located in Kunovice in the south-eastern part of the Czech Republic.
In 2015, Hamé achieved net sales of CZK 5.3 billion (NOK 1.7 billion) and an operating profit of CZK 427 million (NOK 140 million) (unaudited figures). Approximately 70% of Hamé’s sales revenues are generated in the Czech Republic and Slovakia. The seller is Decapterus S.à.r.l., a Luxembourg based private equity holding company. The parties have agreed on a purchase price of EUR 175 million (on a debt-free basis). Hamé will be consolidated in Orkla’s balance sheet as from 31 March 2016 and in the income statement as from 1 April 2016.