Norway-based food group Orkla has taken full control of local sports nutrition business Proteinfabrikken.
Oslo-headquartered Orkla has held a 16.7% stake in Proteinfabrikken since 2014 but has now acquired the rest of the shares in the business for an undisclosed sum.
The deal has been done through Orkla’s wholly-owned Swedish subsidiary Health and Sports Nutrition Group (HSNG), which it acquired in 2017.
Proteinfabrikken, based in Stokke in Vestfold, has a portfolio of self-developed sports nutrition products sold under the PF brand. It also sells and distributes a variety of other sports nutrition, food and fitness equipment brands and products on a third-party basis. These include Callowfit, NOCCO, Barebells and Olimp.
Johan Görgård, CEO of HSNG, said: "HSNG holds a strong position in Sweden, while Proteinfabrikken has a strong presence in Norway. Together, the companies will be a good fit, both in terms of their product portfolios and by giving us a solid base in Scandinavia."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
In 2019, Proteinfabrikken had a turnover of NOK82m (US$9.6m) with most of its sales being in its domestic market. Around half of the sales are made through the company's online store.