Nordic food group Orkla has made yet another acquisition, snapping up Bo Risberg, a distributor of Asian spices, sauces and spice mixes.
The deal was conducted through the Oslo-listed firm’s partly-owned subsidiary Werners Gourmetservice, another business that Orkla only acquired last year, and which manufactures spices, truffles, caviar, chocolate, desserts, oils and coffee.
Bo Risberg also makes spices and mixes, along with sauces and flavourings, and has a “strong position in high-growth categories in Sweden”, according to a statement today (7 June) announcing the deal.
Risberg generated a turnover of SEK83m (US$8.8m) last year, with its namesake Risberg brand accounting for around half of the company’s total sales revenues. However, financial details of the deal with Orkla were not disclosed.
The company was founded in 1976 and is owned by chief executive Björn Vestlund and Sören Storm. It is based in Huddinge, near Stockholm, and employs five people. Risberg operates in both the retail and foodservice channels.
Thore Svensson, the senior vice president of the Orkla Food Ingredients division, said: “Risberg is a well-run company with a recognised brand. It has a strong position in the growing out-of-home channel, which rounds out Orkla Food Ingredients’ position in the bakery, confectioner’s and coffee shop segments.”
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It builds on a host of acquisitions made over the last few years as Orkla expands its presence in the foodservice sector. In April, the company snapped up Zeelandia Sweden, and in March bought the Greek firm Stelio Kanakis Industrial and Commercial.
Orkla said Risberg was consolidated into its accounts from the start of June.
Earlier this week, Orkla named Jaan Ivar Semlitsch as its new chief executive to replace Peter Ruzicka, who left the business in May after five years in the role.
See just-food’s analysis: Will Orkla investors get what they want from incoming CEO?