NORWAY: Reiber buys K-Salat brand from Uniq
Food group Rieber & Søn ASA has today (Monday) acquired 100% of the shares in Uniq Nordic AS and Uniq Denmark AS as well as the K-Salat brand from Uniq Plc.
The acquisition makes Rieber & Søn the market leader in salads in Scandinavia, the company said
Last accounting year K-Salat had sales of 350m Norwegian kroner (US$54.5m). K-Salat is the market leader in salads in Denmark with a market share of 53%. It is also competing with Denja for the no. 2 position in Sweden where it has around 15% of the market. K-Salat also produces and markets dressings, mayonnaise and sauces to the retail and foodservice market in Denmark. K-Salat has a modern factory at Havnsø in Denmark and an overall workforce of 180.
The Enterprise Value of the transaction was 112m kroner.
K-Salat will be co-ordinated with Rieber & Søn's business unit Denja which has 34% of the salad market in Norway and 12% in Sweden. The acquisition of K-Salat presents the opportunity to co-ordinate production, sales organisations and other functions. The process of identifying and realising these synergies will start immediately, and initially this is estimated to at least 20m kroner per year. In addition to improvement programmes already initiated, these synergies will provide a basis for a profitable business with a turnover of around 570m kroner. Together, K-Salat and Denja will have a 37% market share in the Scandinavian salad market, as well as having strong positions in the market for mayonnaise, dressings and sauces in Denmark. The aquisition of K-Salat also strengthens Rieber & Søns sales platform for other products in the Scandinavian market.
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