Orkla Foods Danmark has offloaded its Glyngøre seafood brand to reduce its portfolio complexity and concentrate on prioritised categories.
Glyngøre, which provides processed seafood for the Danish grocery and foodservice sector, has been bought by Amanda Seafoods, which is owned by Nordic seafood group Insula.
Described by Orkla as “Denmark’s best-known herring and tuna brand”, Glyngøre had net sales in 2018 of DKK 43 million ($6.5 million).
“We are glad that a solid company like Amanda Seafoods has chosen to include Glyngøre in its portfolio and will continue to build on this long-established brand to the benefit of Danish consumers,” said Carsten Hänel, CEO of Orkla Foods Danmark.
“This divestment is part of Orkla Foods Denmark’s strategy of concentrating resources on our priority growth areas.”
Jesper Kold Sørensen, CEO of Amanda Seafoods, added: “We look forward to including the well-established Danish brand Glyngøre in our portfolio. Glyngøre holds a strong position with Danish consumers, and we see good opportunities for further building the brand through innovation and product development.”
In 2017, Orkla Foods Danmark sold the K-Salat brand in order to focus on categories with greater growth potential.
The Glyngøre divestiture comes days after Orkla Food Ingredients subsidiary NIC Enterprises agreed a deal to acquire UK-based fudge and toffee manufacturer Confection by Design.
Oslo-headquartered Orkla last month appointed Jaan Ivar Semlitsch as its new CEO, taking over from Peter Ruzicka, who stepped down in March following five years in the role.
Semlitsch will take up his position by 1 December at the latest. Meanwhile, Terje Andersen has been named acting CEO and will remain in the position until Semlitsch joins.
© FoodBev Media Ltd 2019