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Wednesday, 24.04.2024, 03:27
Competition Council in Latvis authorizes Norway's Orkla to acquire NP Foods
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The Competition Council told LETA that the acquisition deal would have no damaging effect on competition in the market segments, in Latvia and the Baltic States, in which the said companies operate.
As a result of the acquisition deal, the market share of these companies will not increase significantly, and it will not create obstacles to new players' entry into the market.
As a result of the acquisition deal, Orkla ASA will hold 100 percent of shares in NP Foods and become the owner of the companies that are part of the NP Foods concern.
Orkla ASA announced its plan to buy NP Foods last August. Orkla ASA is a Norwegian company that also operates in other Scandinavian countries, Eastern Europe, Asia, and the United States. Orkla ASA main business line is production of food products and household goods.
Several companies that operate in Latvia already belong to Orkla – Spilva, Kalev, Latfood, Latfood Agro, Lanordija, Alvo Park, Alvo Park 2, Sapa Profili and Axellus.
Orkla ASA group's turnover in 2013 amounted to NOK 33 billion (EUR 4.13 billion).
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