Orkla, through its wholly-owned subsidiary Orkla Foods Sveridge, has agreed to acquire the breakfast cereal brand Havrefras from PepsiCo, as it aims to strengthen its healthy portfolio.
First launched in 1959, the Havrefras brand has been part of PepsiCo since the company’s acquisition of The Quaker Oats Company in 2001. Orkla currently distributes Havrefras products for PepsiCo in Norway, Sweden and Denmark.
The deal, which has been made for an undisclosed sum, concerns the purchase of the Havrefras brand including Rug Fras and Mini Fras but does not include any employees or production facilities.
“Orkla is well known for its strong, local brands, and the acquisition of Havrefras is strategically appropriate for strengthening our position as leading branded consumer goods supplier,” said Jaan Ivar Semlitsch, president and CEO of Orkla.
He continued: “All the Havrefras products bear the Green Keyhole healthy food label and thus contribute to achieving Orkla’s goal of making everyday food healthier.”
The recent deal follows Orkla’s acquisition of the Pama porridge brand from PepsiCo in 2019, through its Orkla Foods Danmark subsidiary.
Ann-Beth Freuchen, EVP and CEO of Orkla Foods (Nordics and Baltics), added: “Orkla holds a leading position in the Scandinavian grocery trade in a number of attractive categories. By acquiring Havrefras we have strengthened our portfolio with a well-known brand that is a great addition to our other breakfast products.”
Following the acquisition, Orkla will continue to distribute PepsiCo’s other juice, breakfast cereal and snack products in the Nordic region, including Tropicana, Naked, Cruesli, Snack a Jacks, Doritos, Lay’s and Bugles brands.
© FoodBev Media Ltd 2023
