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Orkla invests in Finnish food service

March 1, 2021

Orkla expands in food service and out-of-home by acquiring Finnish food service company Seagood Oy Fort Deli ("Fort Deli"). The acquisition also strengthens Orkla’s foothold in one of its home markets.

Orkla has today announced the acquisition of 80 % of the shares in Finnish food service company Seagood Oy Fort Deli (“Fort Deli”). Fort Deli holds a strong position in the Finnish HoReCa market, which accounts for around 80 percent of the company’s revenues. Fort Deli is well known in Finland for concepts such as Hank’s Sauces, Nonna’s Sauces and Texas Pete Hot Sauce, and is an established supplier of frozen products, sauces, and condiments in Finland.

“With this acquisition we follow through on our strategy to invest in the food service and out-of-home markets, which we see as significant future growth platforms. In addition, we continue our expansion in the growing Finnish home market, where both our branded consumer goods businesses and our out-of-home business through Kotipizza show excellent momentum”, says Jaan Ivar Semlitsch, President and CEO of Orkla.

The acquisition of Fort Deli considerably strengthens Orkla’s presence in the Finnish food service sector.

“With this agreement, we combine Orkla’s strong product portfolio with Fort Deli’s well-established customer relationships, competence, and solutions for the out-of-home market. The acquisition is in line with our ambition to increase the focus on our food service business and we see great potential in working together with the Fort Deli organisation,” says Pasi Flinkman, CEO of Orkla Suomi.

Orkla’s most recent investment in the Finnish market was in 2019 through the acquisition of Kotipizza Group, which is a leading player in the Finnish restaurant market.

“During the past two years, Kotipizza has strengthened its position as the leading pizza chain in Finland. Thanks to our rapid investments in home delivery capacity and online channels, combined with a high-quality product portfolio for fast casual eating, Kotipizza has been able to continue its positive development despite the pandemic,” says Tommi Tervanen, CEO of Kotipizza Group.

Orkla operates in Finland through four companies. Their combined operating revenues in 2020 amount to EUR 425 million (approx. NOK 4.5 billion) and together Orkla employs 719 persons in Finland (as per 31 December 2020).

Fort Deli has 10 employees and its turnover totalled EUR 8.7 million (approx. NOK 90 million) in 2020. The company will be consolidated into Orkla’s financial statements as of 1 March 2021.

The company was established in 1996 and its headquarters are in Vantaa, Finland. CEO Henrik Poulsen will retain 20% of the shares in the company and will continue to serve as CEO of the company.

The parties have agreed not to disclose the purchase price.

About Orkla

Orkla is a leading supplier of branded consumer goods and concept solutions to the consumer, out-of-home and bakery markets in the Nordics, Baltics, and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and its headquarters is in Oslo. In 2020, the Group had a turnover of NOK 47.1 billion, and just over 18,000 employees at year end.

Orkla ASA

Oslo, 1 March 2021

Ref.:

CCO Finland

Nina Olin

Tlf.: +358 50 572 7470

SVP Investor Relations

Kari Lindtvedt

Tlf.: +47 95 07 51 14

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