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Orkla acquires CederrothOrkla acquires Cederroth1/15/2015 7:20:00 AM

Orkla Home & Personal has entered into an agreement to acquire 100% of the shares of Cederroth. Through this acquisition, Orkla Home & Personal will become one of the leading Nordic suppliers of personal care, health, wound care and household cleaning Products.

 

Cederroth has a product portfolio of well-established brands such as LdB, Asan, Bliw, HTH, Salvequick, LongoVital, Multiplex, Samarin, Allévo and Grumme. Cederroth operates in Sweden, Finland, Denmark, Norway, Poland and Spain. The company has four factories located in Sweden, Denmark, Poland and Spain. In 2013, Cederroth achieved a turnover of SEK 1,984 million, and EBITDA of SEK 194 million. The company has a total of 850 employees.

“This acquisition is strategically attractive, and is especially important as it strengthens Orkla Home & Personal’s presence in Sweden. Cederroth is a robust Nordic player and offers considerable potential for value creation. Significant cost and top line synergies have been identified,” says Orkla President and CEO Peter A. Ruzicka.

The product categories offered by Orkla Home & Personal and Cederroth are largely complementary. In addition, wound care will be an attractive new category for Orkla. Cederroth also holds a well-established position in the Nordic pharmacy market. Once the agreement has been completed, Cederroth’s operations will be incorporated into the Orkla Home & Personal business area.

“Together, Cederroth and Orkla Home & Personal will have even better insight into local consumer preferences and customer needs. By merging their operations, Cederroth and Orkla Home & Personal are augmenting their overall competitiveness in local markets where there is significant international competition,” says Stig Ebert Nilssen, Orkla Executive Vice President and CEO of Orkla Home & Personal.

The agreement is subject to the approval of the relevant competition authorities. The transaction is expected to be completed no later than within Q3 2015.

More detailed information about the acquisition can be found on Orkla´s corporate website http://www.orkla.com/Press