LATVIA/NORWAY: Orkla Foods acquires Latvia's Spilva
Norway's Orkla Foods has signed a deal to acquire Spilva, which is one of Latvia's leading food companies, generating annual operating revenues of around €10m (US$12.1m).
Spilva's head office and production plant are situated in Riga, the capital of Latvia. The company, which employs 180 people, has a broad product portfolio, and the main products are processed vegetables, ketchup and other tomato-based sauces, mustard and horseradish, mayonnaise, desserts and jams. Spilva manufactures, markets and sells its products under the Spilva brand. The company also exports products to Lithuania, Russia and Estonia.
"Spilva will strengthen our position in the Baltic States," said Dag J. Opedal, managing director of Orkla Foods. The company already has operations in Estonia and Lithuania.
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