Orkla Expands in Denmark
Orkla, the leading branded consumer goods company in the Nordic region, has agreed to purchase a 90% stake in Easyfood, a Danish producer of bread-based convenience products for the out-of-home channel. The purchase price values Easyfood at DKr330 million (NOK433 million, €44 million). The agreement is subject to the approval of the Danish competition authorities.
Established in 2000, Easyfood has a growing customer base that includes in-store bakeries, convenience stores, cafés, petrol stations and food service.
“Easyfood is well positioned in a growing market for convenience products. Orkla holds a strong position in the Danish grocery sector, in a wide range of food categories. Through our acquisition of Easyfoood, we are strengthening our position in the out-of-home market and in channels with higher growth than traditional grocery stores,” says Carsten Hänel, chief executive of Orkla Foods Danmark.
Easyfood had a turnover of DKr316.1 million (approx. NOK 415 million) in the last 12 months as at 30 October 2018, and normalised EBITDA of DKr33.7 million (approx. NOK 44 million) in the same period. While the company’s turnover is mainly generated in Denmark, exports account for a growing share, currently around 14%.
