Norway-based group Orkla has struck a deal to buy Austrian firm Bioquelle.
Orkla said Bioquelle "holds strong positions" in categories including muesli and organic foods and locally distributes WhiteWave Foods' Alpro brand.
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"With the acquisition of Bioquelle Orkla Foods will broaden its product portfolio and strengthen its position in the breakfast and health categories. This acquisition is strategically important as it enables Orkla Foods to build a stronger presence in growing segments such as organic food and soy based products," Atle Vidar Nagel-Johansen, CEO of the consumer goods giant's Orkla Foods arm, said.
Orkla already has operations in Austria, where it owns the condiments and sauces brand Felix.
Bioquelle generated net sales of EUR18m (US$20.4m) and EBITDA of around EUR700,000 in 2014, Orkla said. A third of its sales come from its own brands, which include Bioquelle, Knusperli and ProSoja.
The company is based in Stey in Austria. Its "main markets" are Austria and Slovenia, Orkla added.
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By GlobalDataFinancial details were not disclosed. The agreement is subject to the approval of Austria's competition authorities.
