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Orkla, a leading supplier of branded consumer goods in Scandinavia, is selling its Glyngore canned fish business to Amanda Seafoods via its Danish subsidiary Orkla Foods Danmark for an undisclosed sum.
Established in 1940, Glyngore is described as Denmark’s best-known herring and tuna brand and had net sales totalling 43 million DKK ($6.5 million) in 2018.
Orkla said the aim of the sale was to “reduce portfolio complexity and concentrate on prioritised categories”.
Commenting on the divestment, Orkla Foods Danmark CEO Carsten Hanel commented: “We are glad that a solid company like Amanda Seafoods has chosen to include Glyngore in its portfolio and will continue to build on this long-established brand to the benefit of Danish consumers. This divestment is part of Orkla Foods Denmark’s strategy of concentrating resources on our priority growth areas”.
Amanda Seafoods CEO Jesper Kold Sorensen added: “We look forward to including the well-established Danish brand Glyngore in our portfolio. Glyngore holds a strong position with Danish consumers, and we see good opportunities for further building the brand through innovation and product development”.
Source: Orkla
