Orkla ASA, a leading supplier of branded consumer goods, has acquired NP Foods Group. The group includes Laima, the leading confectionery producer in Latvia, Staburadze, the leading Baltic biscuit producer, and Gutta, a leading pan-Baltic juice brand, and brands in the convenience foods segment. Financial details of this transaction have not been disclosed.
Orkla ASA is listed on the Oslo Stock Exchange and headquartered in Oslo, Norway. Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery and out-of-home sectors in the Nordic and Baltic regions. Following the 2010 acquisition of Kalev, the leading confectionery producer in Estonia, Orkla strived to expand its Baltic reach. The transaction will enable Orkla to optimize its production bases in the region, and extract synergies.
NP Foods Group is a market-leading branded chocolate, biscuits, sugar confectionery, convenience food and soft drinks group operating primarily in Latvia, Lithuania and Estonia, and exporting to more than 25 countries including Russia and China.
Oaklins' team in Estonia served as the exclusive advisor to the buyer in this transaction.
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