OSLO, NORWAY — Orkla Foods Danmark A/S has entered an agreement to acquire a 90% stake in Easyfood A/S for approximately DKK 330 million ($50.3 million). Easyfood is a Danish producer of bread-based convenience products for the away-from-home category.
“Easyfood is well positioned in a growing market for convenience products,” said Carsten Hänel, chief executive officer of Orkla. “Orkla holds a strong position in the Danish grocery sector, in a wide range of food categories. Through our acquisition of Easyfoood, we are strengthening our position in the out-of-home market and in channels with higher growth than traditional grocery stores.”
Headquartered in Kolding, Denmark, Easyfood has 144 employees. The company was established in 2000 and is owned by Flemming Paasch and Hemming Van. Easyfood had sales of DKK 316.1 million ($48.3 million) in the year ended Oct. 30, 2018.
“Orkla is the Nordic region’s leading branded consumer goods company and will provide valuable expertise and support in Easyfood’s future growth,” said Mr. Paasch, who will remain as the company’s c.e.o. and minority shareholder following the completion of the sale. “Together, the two companies will be well-positioned to respond to new consumer habits, and I am looking forward to being part of the journey ahead.”