Orkla makes another acquisition in the ice cream sector

Orkla makes another acquisition in the ice cream sector

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

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