Orkla has sold its weight management brand, Allevo

Orkla has sold its weight management brand, Allevo

Orkla has announced it is selling its weight management brand Allevo to pharmaceutical company Karo Bio. 

Allevo produces a range of weight loss products from diet replacement and meal replacement shakes, smoothies and soups, bars and ready mixed drinks.

It is owned by Orkla's subsidiary, Cederroth, a Swedish branded consumer goods company. Orkla acquired Cederroth earlier this year and part of the terms of the merger being approved was the agreement to divest the Allevo brand.

The Allevo sale however is still subject to competition authority approval.

Allevo has a turnover of approximately SEK62m.

Last week Orkla announced the acquisition of a majority stake in two Netherlands-based ice cream suppliers to the foodservice sector. It took 55% of the shares in Frusco and Briceland, which supply soft-serve ice mixes and accessories to the Dutch out-of-home market.