Orkla has snapped up Norwegian liquorice firm Lakrisgutta for an undisclosed sum.

The deal, announced yesterday (9 September), will see Lakrisgutta join an Orkla confectionery and snacks business that includes Nidar chocolate and Kims crisps but also Norwegian liquorice brand Skipper.

"Lakrisgutta offers a kind of market variety of liquorice and has created a brand that offers great delight. The owners' development of the Norwegian market for this type of product is impressive. In this acquisition, we see growth opportunities and the company is a good fit with our positions in the liquorice and confectionery segments," Jeanette Hauan Fladby, the CEO of Orkla's Norwegian snacks and confectionery business, said.

Lakrisgutta, set up in 2009, generated turnover of NOK16.8m in 2014. Tobias Martin Karem, one of the company's founders, said: "Establishing Lakrisgutta has meant a lot of hard work over several years. The time was now ripe to let someone else take the company a step further. We feel good about the branded consumer goods company Orkla taking over, and are confident that they will continue to build respectfully on what we have created."

The founders of Lakrisgutta will "provide assistance during a transitional period in order to ensure a smooth handover", Orkla said. More details on how Lakrisgutta will be integrated into Orkla "will be clarified later", it added.

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By GlobalData