Rieber & Son to acquire griddle cake baker
May 26, 2011
by Eric Schroeder
BERGEN, NORWAY — Rieber & Son, one of Norway’s leading food groups, has agreed to acquire Lierne Bakery, a producer of griddle cakes and party cakes for the grocery and catering markets, in a transaction valued at 132.7 million Norwegian krones ($24 million).
Ingrid Tjosvold, director of Rieber & Son’s Norwegian business unit, said the integration of Lierne Bakery will make it possible to achieve synergies in purchasing, production and sales.
“Over the last few years, Lierne Bakery has had a high pace of innovation in the area of griddle cakes and party cakes, allied with core expertise in the freezing and thawing of products through the value chain,” Ms. Tjosvold said. “Rieber & Son’s core competence relates to product development, taste development and brand building.”
Lierne Bakery had sales of approximately 89 million Norwegian krones last year.
Rieber & Son has production plants in Norway, Sweden, Denmark, the Netherlands, Poland, the Czech Republic and Russia, as well as sales offices in Germany and Slovakia. The company has a workforce of 3,011, of whom 1,944 are outside Norway. The group is organized in nine business units and results are reported for three geographical segments; Western Europe, Central Europe and Russia/others.