Orkla expands in Denmark with bakery filling acquisition
The transaction will take place through Orkla’s wholly-owned Danish subsidiary, Odense Marcipan.
Igos manufactures fruit fillings, baking stable jams, syrups and filling mixes as well as flavours, mousse powders, custard, baking improvers and emulgators.
It also sells jams and marmalades under its own brand and supplies private label manufacturers.
The CEO of Odense Marcipan, Niels S. Søgaard, said: "Odense Marcipan has had the objective of expanding its product assortment to include marmalade and fruit fillings. The purchase of Igos is strategically appropriate for strengthening our platform in Scandinavia and Northern Europe.
“The agreement offers potential for purchasing synergies and broader distribution for both companies," says
Headquartered near Copenhagen, Igos had a turnover of DKK 44 million (€6m) in 2017. Orkla said the company would be consolidated into its financial statements as of this week (1 July 2018).
Igos does business Scandinavia and other EU countries, shifting around 4,000 tons of fruit filling a year. A spokesperson for Igos said there would be no restructuring following the purchase.
Financial details of the transaction were not disclosed.
Oslo-headquartered Orkla manufactures consumer-facing goods in the Nordic and Baltic regions as well as certain markets in Central Europe and India.
Orkla Food Ingredients is a leading bakery ingredients player in the Nordic region. Its biggest product categories are margarine and butter blends, yeast, bread and cake improvers and mixes, marzipan and ice cream ingredients.
