Orkla has suggested it plans to increase its presence in India, although the Nordic group was tight-lipped on local reports it was looking for companies to buy.
The company operates in India through local arm MTR, which acquired ready-to-cook brand Rasoi Magic in 2011. A report from The Hindu Business Line said the firm is “scouting for more food companies”.
Orkla told just-food today (23 March) as a stock-listed company it “cannot comment on any specific future M&A activities”. However, it did say MTR had demonstrated “impressive growth” in recent years and that its internal target would be to drive distribution across 300,000 outlets in the next 12-18 months.
The largest category in MTR’s portfolio is spices and masalas.
When asked whether any locally acquired companies would operate under the MTR brand, a spokesperson for Orkla said: “That would be evaluated in each case, depending on the acquired company”.
Speaking more generally about M&A plans, the spokesperson added: “Orkla’s strategy is to strengthen its position as a leading branded consumer goods company with its main markets in the Nordic and Baltic regions. The primary driver of long-term value creation is organic growth in the branded consumer goods sector. When it comes to M&A, Orkla intends to continue to build on its strong positions in the Nordics and Baltics and selected markets where the group already has a presence”.