Scandinavian food group Orkla has bought County Confectionery, a manufacturer of fudge and chocolate in the UK.
Through its wholly-owned subsidiary NIC Enterprises Limited, Orkla has signed and completed an agreement to acquire County Confectionery for an undisclosed sum.
County Confectionery is a family-owned company established in 1983 with 95 employees. Its head office and production facilities are located in St. Ives in Cornwall.
It had a turnover of GBP8.6m (US$11.2m) for the financial year that ended in May 2018.
Tor Osmundsen, the CEO of NIC Enterprises, said: “County’s has a long history of manufacturing high-quality fudge and chocolate products. Orkla Food Ingredients and County’s are a good strategic fit, and the acquisition complements Orkla Food Ingredients’ position as a supplier of ingredients and accessories to the UK bakery, chocolate and ice cream market.”
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The deal for County Confectionery is the fifth acquisition – either outright or of a controlling stake – Orkla has made in 2018, including that of Denmark’s Igos, which manufactures marmalade and fruit fillings for bakeries and confectioners, in July.
Four out of the six acquisitions Orkla made in 2017 were of ingredients businesses.
Click here for detail on Orkla’s M&A activity
