Norwegian food group Rieber & Søn is to acquire the Saritas ready-meal brand from local ethnic food firm Taste of India.
Rieber said the acquisition will allow it to strengthen its presence in growing categories in the Norwegian market. The group already has a presence in the chilled ready meals category in Norway with its Toro Velbekomme range.
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“With a portfolio of authentic Indian ready meals, Rieber & Søn has established a foothold in a segment that is expected to grow in the coming years,” the company said.
Saritas has well-established sales in leading retail outlets, and recorded turnover of around NOK12m (US$2.06m) in 2011.
However, Rieber said the brand “lacks a sales and market apparatus for national distribution”, which it says it can provide.
The deal is expected to be completed by 1 April.
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