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Orkla, the Scandinavian food giant, has announced the acquisition of bakery firm Struer Brod via its wholly-owned subsidiary Orkla Foods Sverige.
Struer Brod was established in 1929 and predominantly manufactures bakery products such as breadcrumbs, as well as breakfast cereals, for both retail and foodservice channels. The firm has also supplied Orkla since 2012.
In 2016, Struer Brod had a turnover of 114 million DKK ($19 million), about half of which consisted of sales to Orkla.
Commenting on the deal, Atle Vidar Nagel Johansen, Orkla EVP and CEO of Orkla Foods, said: “Struer delivers high-quality products and has strong product development expertise. We are pleased with our collaboration with Struer, and this acquisition is strategically important to ensure sufficient production capacity and product development for the future”.
Terms of the deal were not disclosed.
Source: Orkla
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