Orkla is planning to grow its presence in India

Orkla is planning to grow its presence in India

Orkla has suggested it plans to increase its presence in India, although the Nordic group was tight-lipped on local reports it was looking for companies to buy.

The company operates in India through local arm MTR, which acquired ready-to-cook brand Rasoi Magic in 2011. A report from The Hindu Business Line said the firm is "scouting for more food companies".

Orkla told just-food today (23 March) as a stock-listed company it "cannot comment on any specific future M&A activities". However, it did say MTR had demonstrated "impressive growth" in recent years and that its internal target would be to drive distribution across 300,000 outlets in the next 12-18 months.

The largest category in MTR's portfolio is spices and masalas.

When asked whether any locally acquired companies would operate under the MTR brand, a spokesperson for Orkla said: "That would be evaluated in each case, depending on the acquired company".

Speaking more generally about M&A plans, the spokesperson added: "Orkla's strategy is to strengthen its position as a leading branded consumer goods company with its main markets in the Nordic and Baltic regions. The primary driver of long-term value creation is organic growth in the branded consumer goods sector. When it comes to M&A, Orkla intends to continue to build on its strong positions in the Nordics and Baltics and selected markets where the group already has a presence".