Scandinavian FMCG firm Orkla has announced an expansion into the sports supplements space with the acquisition of Health And Sports Nutrition Group (HSNG), described as the largest e-commerce firm for sports nutrition in the Nordic region.
HSNG runs the Gymgrossisten and Bodystore platforms, offering food, dietary supplements and health and well-being products in addition to clothing. equipment and accessories. The websites offer proprietary brands and products distributed on behalf of third parties and are claimed to receive 24 million visits per year. Gymgrossisten is said to primarily target athletes and active sports enthusiasts, while Bodystore is described as a full-range store for health-conscious consumers.
HSNG is currently owned by Qliro Group and has around 170 employees.
Commenting on the move, Stig Ebert Nilssen, Orkla EVP and CEO of Orkla Care, said: “Orkla’s goal is to strengthen its focus on digital marketing and sales, and through this acquisition will gain proximity to a large number of engaged consumers. Health is a priority area for us, and we see good opportunities for collaboration with our existing activities, in the form of greater distribution through traditional sales channels and, not least, enhanced consumer insight”.
The purchase price is 360 million SEK ($43 million) on a debt-free basis.
Source: Orkla (via 4-Traders)