Orkla Care Poland has entered into an agreement to sell its skincare business in Poland to Bielenda Kosmetyki Naturalne for an undisclosed sum.
The move will help Orkla Care Poland in streamlining its portfolio and concentrate its Polish operations on health, wound care, cleaning and personal care products.
The deal includes the Soraya and Dermika brands, 145 employees, and the production facilities and equipment in Radzymin.
'Well-Known Skincare Brands'
CEO of Orkla Care, Atle Vidar Nagel Johansen, said, “Soraya and Dermika are well-known skincare brands and are recognised by Polish consumers for their quality and innovation.
"We’re glad that the business will continue to operate under the ownership of Bielenda, whose core business is beauty and skincare. This sale will contribute to a more focused and robust Orkla Care Poland.”
The agreement, subject to the approval of the Polish competition authorities, is expected to take effect at the turn of the year 2020/2021, Orkla added.
Background
Launched in 1990, Bielenda is a family-owned manufacturer and supplier of branded beauty and skincare products to professionals and the grocery market in Poland.
Bielenda has teamed up with the Polish fund Innova Capital for this acquisition.
In 2015, Orkla’s Polish skincare business became part of Orkla Care Poland through the acquisition of Cederroth.
Orkla’s net revenues from the business now being divested totalled PLN56 million (€12.4 million) in 2019, the company said.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
