Orkla is expanding its acquisitions further with its latest deal to buy Zeelandia Sweden AB, a supplier of margarine, vegetable oils and bakery ingredients to the Swedish market. The deal marks the latest purchase for Orkla which continues on its acquisition trail following a busy start to the year which also saw the company buy a Greek ingredients supplier and take a stake in kombucha and vegetarian foods makers.
Through its wholly-owned subsidiary Orkla Food Ingredients AS, Orkla has entered into an agreement to purchase Zeelandia, which says this decision fits within the company’s business strategy to build leading and sustainable market positions in Europe. Zeelandia Sweden AB has 60 employees and had a turnover of EUR 22.9 m in 2018.
The company has most of its sales in Sweden, and exports to Finland, the Baltics and Norway, primarily selling to the bakery industry. Following the transaction, the company’s name will be changed to Credin Sverige AB, and the company will become part of Credin Group.