OSLO, NORWAY — Orkla Foods Danmark A/S has reached an agreement to acquire Zeelandia Sweden AB, a supplier of margarine, vegetable oils and bakery ingredients to the Swedish market. It is the third acquisition for Orkla in 2019.
Financial terms of the transaction were not disclosed.
Stenkullen, Sweden-based Zeelandia had sales of approximately €22.9 million ($25.8 million) in fiscal 2018. The company generates most of its sales in Sweden, but also exports products to Finland, the Baltics and Norway. Zeelandia is owned by the Dutch company Koninklijke Zeelandia Groep B.V. and is headed by chief executive officer Karin Anderson.
Once the transaction is finalized, Zeelandia will be renamed Credin Sverige AB, and the company will become part of the Credin Group.
“The acquisition of Zeelandia Sweden AB is strategically right for strengthening Orkla’s position and production capabilities in our Nordic home markets in categories with which Orkla Food Ingredients is very familiar,” said Johan Clarin, executive vice-president of Orkla and c.e.o. of Orkla Food Ingredients. “Their product portfolio makes a good fit with the Credin Group.”
In late March, Orkla announced it had reached an agreement to acquire a majority stake in Stelios Kanakis Industrial and Commercial S.A. Based in Acharnes, Greece, Kanakis supplies bakery, confectionery and ice cream ingredients in Greece. In January, Orkla agreed 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.