Norway-based Orkla said the purchase of Kalev Chocolate Factory by its subsidiary Felix Abba will help the firm expand its presence in Estonia.
The firm yesterday (4 May) announced Felix Abba will take over 100% of the Estonian confectioner, including the firm’s factory in Jüri, its biscuits and flour mix businesses in Estonia, production equipment and related trademarks.
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Kalev has annual net sales of around EUR28m (US$36.2m) and 386 employees.
Orkla already has a presence in Estonia but a spokesperson for the firm told just-food that the acquisition will allow it to increase its business in the Baltic state.
“We want to considerably increase our presence in Estonia as we have the clear intention to increase our brand’s presence in different home markets – and we consider Estonia one of those,” a spokesperson for the firm said. “We want to increase our business in this market.”
Orkla Foods Fenno-Baltic managing director Clas Göran Hagström said that the acquisition is an “important step” in the expansion of its confectionery business, giving the firm “good growth and value creation possibilities” in the Estonian market.
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By GlobalDataThe deal is subject to the approval of the Estonian competition authorities.
