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.
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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.”
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.
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By GlobalDataFour out of the six acquisitions Orkla made in 2017 were of ingredients businesses.
Click here for detail on Orkla’s M&A activity
