Orkla Makes Offer For Finnish Pizza Chain

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Orkla Makes Offer For Finnish Pizza Chain

Orkla Makes Offer For Finnish Pizza Chain
November 23
10:35 2018
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Orkla, a leading supplier of branded consumer goods and concept solutions to the consumer, out-of-home and bakery markets in the Nordics, Baltics and selected markets in Central Europe and India, has agreed to launch a €146.1 million offer to purchase all the shares in Kotipizza Group, the owner of Finland’s largest chain of pizza restaurants. Kotipizza Group is a leading player in the growing Finnish restaurant market, and Finland is one of Orkla’s home markets. The restaurants are mainly operated by franchisees.

“Kotipizza Group is a well-run company with competent management and a well-functioning franchise model. The acquisition of Kotipizza Group is in line with our strategic ambition to increase our presence in channels with faster growth than traditional grocery, and we see a good match between the two companies,” says Peter A Ruzicka, president and chief executive of Orkla.

Kotipizza Group is best known for the pizza restaurant chain Kotipizza, which was established in 1987. Since then, the chain has grown to 280 restaurants in Finland, of which all except one are franchise-operated. Kotipizza Group had total net sales of €84.1 million in the financial year 2017 and EBIT of €6.4 million.

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