Oslo / NO. (ok) Through its wholly-owned subsidiary Idun Industri AS, Orkla Food Ingredients (OFI) has purchased 55 percent of the shares in the two Dutch sales and distribution companies Frusco and Briceland. Combined, the two companies will be a leading player in the Dutch ice cream market.
Frusco and Briceland supply soft serve ice mixes and accessories to the Dutch out-of-home market. The companies also export their products to other European and Non-European countries. OFI is one of Europe’s leading suppliers of ice cream ingredients and accessories, with a presence in the Nordics, the UK and Germany. Through the acquisition of Frusco and Briceland, OFI is expanding its business area for ice cream ingredients and accessories to the Netherlands. Moreover, Frusco and Briceland will bring to the business area their soft serve ice mix expertise and supply chain.
«This acquisition is in line with Orkla’s aim to grow in selected categories and markets where we see a potential for further growth and synergies. Frusco and Briceland both hold strong positions as suppliers to the Dutch ice cream market, and the acquisition is strategically important for strengthening OFI’s presence in selected geographies in Europe», says Pål Eikeland, Orkla EVP and CEO of Orkla Food Ingredients.
Frusco and Briceland have a total of 15 employees, and their operations are located in Deventer and Waddinxveen, respectively. The companies achieved an aggregate turnover of 12.5 million EUR (119 million NOK) in 2014. Frusco and Briceland have a combined total value of 8.6 million EUR (82 million NOK) on a debt-free basis (100 percent). The companies’ present owners, who are three private individuals, will continue to hold a total of 45 percent of shares as minority shareholders.
About Orkla ASA
Orkla ASA is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordic region, the Baltics and selected markets in central Europe and India. Orkla is listed on the Oslo Stock Exchange and its headquarters are in Oslo, Norway. In 2014, the Group had a total turnover of approximately 30 billion NOK and had around 13’000 employees at year end.
About Orkla Food Ingredients
Orkla Food Ingredients (OFI) is the leading player in the bakery ingredients sector in the Nordic region, in addition to holding growing market positions in selected countries in Europe. The business area ensures proximity to its customer market through sales and distribution companies in a total of 19 countries. Its biggest product groups are margarine and butter blends, bread and cake improvers and mixes, marzipan and yeast.