The family-owned holding company Finsbraten Eiendom AS, based in Norway, has sold Krone Kjottprodukter AS, a leading producer of meat products, to Scandza AS. Financial terms have not been disclosed.
Krone was, together with its sister company Finsbraten, at the time of the transaction, one of the leading privately owned producers of meat products in Norway. Krone produces and sells red meat products to the industrial and food service markets, as well as some products to the grocery retail market.
Scandza is a leading Scandinavian food and beverage business focused on developing strong positions within selected fast-moving consumer goods (FMCG) categories, including chilled foods, snacking and baked goods. The portfolio includes brands such as Sorlandschips, Norway's second largest potato chips brand, Synnove Finden, one of Norway's leading dairy brands, and Karen Volf and Bisca, leading Danish branded biscuit and cake brands.
Oaklins' team in Norway acted as financial advisor to the seller in this transaction.
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