Norwegian consumer goods company Orkla has announced that it has signed an agreement to acquire the Havrefras brand from PepsiCo for an undisclosed amount.
The deal is in line with Orkla’s strategy to develop its portfolio of healthy products and includes the breakfast cereals Rug Fras and Mini Fras, which hold a strong market position in Scandinavia.
The agreement does not include any employees or production facilities, Orkla added.
'Strategically Appropriate'
President and CEO of Orkla, Jaan Ivar Semlitsch, commented, “Orkla is well known for its strong, local brands, and the acquisition of Havrefras is strategically appropriate for strengthening our position as leading branded consumer goods supplier.
“All the Havrefras products bear the Green Keyhole healthy food label and thus contribute to achieving Orkla’s goal of making everyday food healthier.”
Presently, Orkla distributes Havrefras products for PepsiCo in Norway, Sweden and Denmark.
The company will continue as a distributor of PepsiCo’s other products in the Nordic region, including Tropicana, Naked, Cruesli, Snack a Jacks, Doritos, Lay’s and Bugles brands, it added.
Havrefras is a market leader in Denmark and Sweden in the healthy breakfast cereals category and second in Norway.
The brand was launched in 1959 and was acquired by PepsiCo in 2001 along with The Quaker Oats Company.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
