Nordic food manufacturer Felix Abba has acquired the Estonian confectioner Kalev Chocolate Factory (Kalev) from the Estonian holding company Luterma AS. Under the agreement, Felix Abba took over a 100% share in Kalev Chocolate Factory, including the factory in Jüri near Tallinn, all production equipment and the related trademarks. Financial details have not been disclosed.
Felix Abba is one of Finland’s leading food manufacturers, and a member of the Orkla Foods Fenno-Baltic division, which is part of the Norwegian Orkla Group. The Orkla Group operates in the branded consumer goods, aluminum solutions, materials and financial investment sectors.
Clas Goran Hagstrom, Managing Director of Orkla Foods Fenno-Baltic said that the acquisition was an important step in the expansion of Orkla Foods' confectionery business, giving it good growth and value creation possibilities in the Estonian market and providing a platform for expanding its confectionery business in Finland and the Baltic region.
Kalev is the leading chocolate and sugar confectionery company in Estonia, with more than 200 years of history.
Oaklins' team in the Baltic region originated the deal and assisted Felix Abba/Orkla Group throughout the acquisition process.
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.