Orkla Food to take over Norwegian Arne B Corneliussen

Orkla Food Ingredients has entered an agreement to acquire Norwegian food ingredients manufacturer and supplier Arne B Corneliussen from Danish Crown’s division DAT-Schaub through the purchase of shares.

The firms have not disclosed the financial details of the transaction, which is being hadled by Orkla’s wholly-owned subsidiary Idun Industri.

Founded in 1949, Arne B Corneliussen markets its portfolio of functional ingredients such as spices, marinades, flavourings, and starter cultures to food manufacturers.

The firm has its head office, production sites, a test kitchen, and a warehouse located at Økern in Oslo.

Last year, Arne B Corneliussen reported a turnover of Nkr188m ($23.2m).

Orkla Food Ingredients CEO Pål Eikeland said: “This acquisition gives us access to a new growth platform in the food industry.

“The purchase of Arne B Corneliussen also offers the potential for synergies with our existing ingredients operations in Norway, in the form of a more strategic focus on the out-of-home sector as well as savings in areas such as purchasing and distribution.”

Orkla Food Ingredients primarily offers bakery ingredients, including margarine, butter blends, yeast, bread, cake improvers and mixes, marzipan, and icecream ingredients.

The firm supplies its branded consumer products and concepts to the grocery, out-of-home, and bakery markets in the Nordics, Baltics, certain Central European, and Indian markets.

Subject to the approval from the Norwegian competition authorities, the transaction is expected to boost the firm’s product portfolio and customer base in Norway.