Orkla Care’s Health and Sports Nutrition Group subsidiary has acquired Norwegian sports nutrition brand Proteinfabrikken for an undisclosed sum.
Proteinfabrikken sells a range of sports nutrition products such as protein bars, drinks and whey protein powders under its PF brand, and also sells and distributes a variety of other sports nutrition, food and fitness equipment brands and products.
In 2019, Proteinfabrikken registered turnover of NOK 82 million ($9.6 million), with most of the sales to customers in Norway. Around half of the company’s sales are made through the firm’s own online store.
Orkla Care was previously the second-largest shareholder in the company, as it acquired a 16.7% minority stake in Proteinfabrikken in 2014. As part of this new agreement, Orkla’s Health and Sports Nutrition Group unit has now acquired 100% of the shares in Proteinfabrikken, including Orkla Care’s initial interest.
Johan Görgård, CEO of Health and Sports Nutrition Group said: “Health and Sports Nutrition Group holds a strong position in Sweden, while Proteinfabrikken has a strong presence in Norway.
“Together, the companies will be a good fit, both in terms of their product portfolios and by giving us a solid base in Scandinavia.”
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