Orkla, the Scandinavian consumer goods giant, has announced the acquisition of Havrefras Brand, a breakfast cereal brand from PepsiCo, for an undisclosed sum.
Created in 1959, Havrefras brand has been part of PepsiCo’s portfolio since the acquisition of The Quaker Oats Company in 2001.
According to sources, this acquisition is in line with Orkla’s strategy of further developing a portfolio with a strong health profile. The deal will not include any employees or production facilities.
Jaan Ivar Semlitsch, president & CEO of Orkla, said: “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”.
Orkla will continue to distribute other PepsiCo’s brands on the Nordic region.
Sources: My News Desk