EU – Baltic States, Foodstuff, Latvia, Legislation, Markets and Companies, Mergers and take-overs

Orkla website indicates that the acquisition will nearly double the scale of Orkla’s Baltic operations, making Orkla one of the largest consumer goods companies in the region.

Orkla is already represented in the Baltic region through the branded consumer goods companies Spilva, Latfood (Latvia), Kalev and Poltsamaa Felix (Estonia), and Suslavicius-Felix (Lithuania).

"The acquisition of Laima and other well-established brands is strategically important to Orkla, and will significantly strengthen our foothold in the region," says Orkla President and CEO Peter A. Ruzicka.

Further information will be provided during a press conference that will be held at 2 p.m. at the Laima Chocolate Museum in Riga at 22 Miera Street. Orkla Confectionery&Snacks CEO Christer Aberg and NP Foods CEO Rolands Gulbis will participate in the conference.

"The acquisition of NP Foods by Orkla gives us access to new technology, in-depth expertise and a well-documented food and product safety system. This will allow us to develop our long-established brands further and open up new opportunities for the company," said Gulbis.

Orkla is listed on the Oslo Stock Exchange and headquartered in Oslo, Norway. Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery and out-of-home sectors in the Nordic and Baltic regions, the company's website indicates. In addition, the Orkla Group holds good positions in certain product categories in India, the Czech Republic, Austria, Poland and Russia. The company is also a major supplier to the European bakery market. Orkla’s vision is to improve everyday life with healthier and more enjoyable local brands.

Orkla also operates in the aluminum, hydropower and real estate sectors.

As of December 31, 2013, Orkla had around 17,000 employees. The group’s turnover in 2013 totaled NOK 33 billion (EUR 4.13 billion).

NP Foods turnover in 2013 was EUR 64.32 million, as compared to EUR 58.77 million in 2012. The company's profit in 2013 was EUR 1.107 million, as compared to EUR 304,584 in 2012.