Orkla has made an offer to acquire the owner of Finnish restaurant chain Kotipizza, Kotipizza Group, for approximately €146.1 million.
Kotipizza was established in 1987 and is one of the leading pizza restaurant chains in Finland, with around 280 restaurants in the country.
If the transaction is completed, Orkla will also acquire Kotipizza Group-owned wholesale company Helsinki Foodstock Oy as part of the deal. Helsinki Foodstock Oy supplies ingredients to Kotipizza Group’s restaurant chains and other external customers.
The acquisition is subject to regulatory approval, and if the transaction is completed Kotipizza will retain its current management team and operate as an independent unit within Orkla.
Kotipizza Group registered net sales of €84.1 million in 2017, and Orkla says that the acquisition will help it increase its presence in the “growing” Finnish restaurant market and stimulate growth beyond its grocery offering.
Orkla president & CEO Peter Ruzicka said: “Kotipizza Group is a well-run company with competent management and a well-functioning franchise model.
“The acquisition of Kotipizza Group is in line with our strategic ambition to increase our presence in channels with faster growth than traditional grocery, and we see a good match between the two companies.”
© FoodBev Media Ltd 2019