Orkla’s acquisition of Cederroth approved
The Norwegian Competition Authority has now approved Orkla’s acquisition of Cederroth, which means the agreement has been approved by all the relevant competition authorities.
On 15 January this year, Orkla Home & Personal entered into an agreement to purchase 100% of the shares in the branded consumer goods company Cederroth. The acquisition has now been approved by all the relevant competition authorities, and the transaction will be completed in the next few days.
The agreement has been approved in Norway on condition that Asan is sold. Earlier this summer, the agreement was approved in Sweden subject to the sale of Allévo. The turnover for these two brands accounts for an estimated 8 % of total turnover. The other competition authorities have approved the agreement unconditionally.
Cederroth has operations in Sweden, Finland, Denmark, Norway, Poland and Spain. The company has four factories, located in Sweden, Denmark, Poland and Spain. Cederroth achieved a turnover of SEK 1,894 million in 2014, and an EBITDA of SEK 174 million. The company has a total of 850 employees.
Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordics, the Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and has its head office in Oslo. In 2014, the Group had a turnover of around NOK 30 billion and approximately 13,000 employees at year-end.
The Orkla Home & Personal business area comprises five branded consumer goods businesses which primarily serve the Nordic region as their home market: Lilleborg (personal care products and detergents), Lilleborg Profesjonell (full-range supplier of hygiene and cleaning solutions for the professional market), Orkla Health (dietary supplements and health products), Pierre Robert Group (socks and underwear sold through the grocery channel) and Orkla House Care (painting tools and cleaning products).
Oslo, 28 August 2015
Group Director Corporate Communications and Corporate Affairs
Tel.: +47 928 45 828
SVP Investor Relations
Tel: +47 983 66 334
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Act.
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