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March 1, 2016

Orkla acquires UK cone maker Waverley Bakery

Orkla has acquired UK-based ice cream cone and wafer maker, The Waverley Bakery Ltd, for around GBP5.2m (US$7.3m). 

Orkla has acquired UK-based ice cream cone and wafer maker, The Waverley Bakery Ltd, for around GBP5.2m (US$7.3m). 

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The Norway-based food group is buying Waverley Bakery from UK company Lees Foods via its subsidiary Idun Industri. 

Waverley primarily sells ice cream cones and wafers to the grocery sector in the UK. The company also offers ice cream cones, ingredients and accessories to ice cream parlours and small-scale ice cream manufacturers. 

Orkla already manufactures ice cream ingredients via its subsidiary, OFI. The company has a presence in the Nordic markets, Germany, the Netherlands and the UK. With the acquisition of Waverley, Orkla said it is “strengthening its market position” in ice cream cones and wafers in the UK. The acquisition also adds the grocery trade as a sales channel for OFI in the UK, the company noted. 

“This acquisition is in line with Orkla’s aim of growing in selected categories and markets where we see a potential for further growth and synergies. The acquisition of Waverley gives Orkla Food Ingredients a leading position in the market for ice cream ingredients and accessories in the UK,” said Pål Eikeland, Orkla senior vice president and CEO of Orkla Food Ingredients.

Waverley Bakery is located in Glasgow and has around 45 employees. The company achieved a turnover of GBP5.9m in 2015 and EBITDA of GBP0.7m.

In December, Orkla announced the acquisition of a majority stake in two Netherlands-based ice cream suppliers to the foodservice sector.

Orkla bought 55% of the shares in Frusco and Briceland, which supply soft-serve ice mixes and accessories to the Dutch out-of-home market. The companies also export products to other European countries and markets outside the continent

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Free Whitepaper
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What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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