Orkla has snapped up a majority stake in two Netherlands-based ice cream suppliers to the foodservice sector.
The Nordic food group has bought 55% of the shares in Frusco and Briceland, which supply soft-serve ice mixes and accessories to the Dutch out-of-home market. The companies also export products to other European countries and markets outside the continent.
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Their owners, who Orkla described as three “private individuals”, will continue to hold the other 45% of the companies’ shares as minority investors.
“This acquisition is in line with Orkla’s aim to grow in selected categories and markets where we see a potential for further growth and synergies. Frusco and Briceland both hold strong positions as suppliers to the Dutch ice cream market, and the acquisition is strategically important for strengthening OFI’s presence in selected geographies in Europe,” Pål Eikeland, the CEO of Orkla’s food ingredients arm, said.
Frusco and Briceland have 15 staff, and their operations are located in the Dutch towns of Deventer and Waddinxveen. The companies generated an aggregate turnover of EUR12.5m (US$13.7m) in 2014.
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By GlobalData
