Orkla has strengthened its position in the food service and out-of-home sectors with the acquisition of a majority 80% stake in SeaGood Oy Fort Deli.
Established in 1996, Fort Deli is a supplier of frozen products, sauces and condiments in Finland. While its first products were finger food and frozen fish, the food service company is now well-known for its Hank’s Sauces, Nonna’s Sauces and Texas Pete Hot Sauce.
The Vantaa-headquartered firm represents companies from around the world, from Europe to the US and Thailand. In 2020, Fort Deli reported a turnover of €8.7 million.
As of 1 March, Fort Deli will be consolidated into Orkla’s financial statements. Fort Deli CEO, Henrik Poulsen, will retain 20% of the shares in the business and will continue to serve in his leading role.
With the acquisition, Orkla says it has strengthened its foothold in one of its home markets and its presence in the Finnish food service sector.
“With this acquisition we follow through on our strategy to invest in the food service and out-of-home markets, which we see as significant future growth platforms,” said Jaan Ivar Semlitsch, president and CEO of Orkla.
“In addition, we continue our expansion in the growing Finnish home market, where both our branded consumer goods businesses and our out-of-home business through Kotipizza show excellent momentum,” he added.
In 2019, Orkla acquired Finnish pizza chain Kotipizza Group for €146.1 million and has since invested in its home delivery capacity and online channels amid the pandemic.
Pasi Flinkman, CEO of Orkla Suomi, said: “With this agreement, we combine Orkla’s strong product portfolio with Fort Deli’s well-established customer relationships, competence, and solutions for the out-of-home market. The acquisition is in line with our ambition to increase the focus on our food service business and we see great potential in working together with the Fort Deli organisation.”
The deal was made for an undisclosed sum.
© FoodBev Media Ltd 2021
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