Norway: Orkla to acquire Icelandic company Noi-Sirius

Scandinavian consumer goods giant, Orkla, has announced the full acquisition of the Icelandic chocolate and confectionery company Noi-Sirius for an undisclosed sum.

In 2019, Orkla acquired a 20% minority stake in Noi-Sirius and now Orkla has agreed to acquire the remaining shares in the company.

Noi-Sirius is a chocolate and confectionery manufacturer with a workforce of around 120 employees with iconic brands such Sirius, Noa Konfekt, Noa Kropp, Noa Paskaegg, and Konsum.

Orkla President and CEO Jaan Ivar Semlitsch said: “Noi Sirius holds a unique position in Iceland and is a good fit with Orkla’s portfolio of leading brands. We see a potential for creating value by continuing to build on Noi Sirius’s strong brands in Iceland, while also expanding the product range. Chocolate, snacks and confectionery are core categories for Orkla and Iceland is a growth market – we intend to be part of that growth.”

“When one of the leading Nordic FMCG companies shows interest for Noi Sirius it is a clear testament of our success as a company and of our brands. Both employees and owners of Noi Sirius have worked hard to achieve this kind of recognition,” said CEO Finnur Geirsson at Noi Sirius.

Source: Orkla press release