The agreement encompasses 90.11% of the shares in Rieber & Søn at a price of NOK 66.58 per share.
Rieber & Søn is listed on the Oslo Stock Exchange, and is an important supplier to grocery stores in the Nordic countries, parts of Central Europe and Russia. Its well-known brands include Toro, Vitana, K-Salat, Delecta, Frödinge, Chaka and Bähncke.
CEO Åge Korsvold of Orkla, said: “Rieber & Søn is a well-run group, with a strong heritage, talented employees and strong market positions. Together, Rieber & Søn and Orkla will be the leading Nordic food manufacturer, with the expertise and resources to develop strong local products and brands in competition with international players.”
Source: Orkla
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