Norwegian food producer Orkla Food Ingredients has signed an agreement to purchase 80% of the shares of SR Food A/S , the Danish sales and distribution company.
SR Food has a broad product range, which includes fresh doughs, tapas and sliced meats for the Nordic market. It is also increasing its production of organic and vegetarian products, which the Norwegian company is hopeful will ’further develop its position as a supplier [of organic and vegetarian foods]’.
Developing Platform
Pål Eikeland, Executive Vice President and CEO of Orkla, said, “With the acquisition of SR Food, Orkla is developing its platform for growth in organic and vegetarian foods, and in addition strengthening its position in fresh doughs.
"SR Food and Orkla Food Ingredients share many customers, so it will be possible to broaden distribution and expand product range. The acquisition also creates a potential for synergies between the businesses."
SR Food is a privately owned company established in 2003. Shareholder Jan Hørby, who currently leads the company, will continue as CEO after the transaction.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O'Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.
