Orkla acquires 80% stake in Denmark’s SR Food
Orkla Food Ingredients has signed an agreement to acquire an 80% stake in Danish sales and distribution company SR Food, through its partially owned subsidiary Dragsbæk.
Financial details of the deal have not been divulged by either company.
The acquisition is expected to further strengthen Orkla Food Ingredients’ presence in the organic and vegetarian foods segment.
Orkla Food Ingredients executive vice-president and CEO Pål Eikeland said: “With the acquisition of SR Food, Orkla is developing its platform for growth in organic and vegetarian foods, and in addition strengthening its position in fresh doughs.
“SR Food and Orkla Food Ingredients share many customers, so it will be possible to broaden distribution and expand product range. The acquisition also creates a potential for synergies between the businesses.”
Orkla Food Ingredients has established its position in the food market with the launch of Funky Fields under the Naturli’ brand.
The company’s major product categories are margarine and butter blends, yeast, bread and cake mixes, as well as ice cream ingredients.
SR Food was established in 2003 and is owned by its shareholder Jan Hørby, who will continue as CEO after the completion of the transaction.
It offers a range of food products such as fresh doughs, tapas and sliced meats for the Nordic market.