Orkla Food Ingredients has acquired 100% of the shares in sales and distribution business Gortrush Trading through its subsidiary NIC Enterprises.
Gortrush supplies ice cream ingredients and accessories to wholesalers, ice cream retail outlets and distributors in Ireland and the UK.
The Northern Ireland-based company had a turnover of £4.5 million (NOK 53 million approx.) in the 12 months ending 30 September 2020, according to Orkla.
Orkla already operates in the UK ice cream ingredients and accessories market through NIC UK, part of its Food Ingredients business.
“We already hold a strong position in ice cream ingredients and accessories in the UK market,” said Tor Osmundsen, CEO of NIC Group.
“The acquisition of Gortrush is strategically right for increasing our foothold in Northern Ireland and gaining better access to the Irish market. Gortrush’s product assortment is a good match to that of NIC UK, and the businesses complement each other well.”
The financial terms of the transaction have not been disclosed.
Earlier this year, Orkla agreed to acquire a majority stake in India-based Eastern Condiments through its MTR Foods subsidiary.
© FoodBev Media Ltd 2020