Orkla Brands International is planning to sell two of its Polish businesses, Kotlin and Elbro, to Agros Nova.
Go deeper with GlobalData
Kotlin manufactures ketchup, tomato-based sauces, jams, ready meals, pizza and preserved vegetables, while Elbro’s products include frozen dumplings, noodles, ravioli and pirogues. The companies’ consolidated sales totalled NOK240m (US$44.7m) in 2007.
Orkla said that it has made a number of operational improvements since it acquired the companies – Kotlin in 1997 and Elbro in 2004.
Kotlin and Elbro have undergone an extensive reorganisation programme, which has seen the number of employees cut and the product portfolio streamlined, but Orkla is unhappy with the companies’ performance.
“We are not satisfied with the companies’ market positions and financial performance in the Polish market. It is time for a new owner, who can help strengthen the companies’ future possibilities in the Polish market,” Paul Jordahl, MD of Orkla, said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAgros Nova manufactures jams, soups, juices and preserved vegetables.
“Through this acquisition our business will expand in sectors where we are already strong and also into new categories,” a spokesperson for Agros Nova told just-food. “We are pushing our business towards growth in Poland.”
The sale is subject to the approval of the Polish competition authorities.
Financial details of the deal were not disclosed.
