Kavli divests danish operations to Orkla
The Norwegian based Kavli Group has entered into an agreement with Orkla Foods Denmark to sell its Danish operations O. Kavli AS.
The agreement means a takeover of 100% of the shares in the Danish company, which in its home market is a supplier of well-known local brands such as Fun, Grønne Gaarden, Kavli, Scoop and Blomberg’s Glögg. The company, which was established by Norwegian O. Kavli in 1935, had a turnover of 170 million Danish kroner in 2014.
- Our Danish operation has, as the only business in the group, had its main focus on the cordial category and therefore has had little in common with the rest of the group. It has not been an easy decision to sell an operation like this, but at the same time we are convinced that Orkla as a new owner will be able to strengthen the brand positions in the Danish market, says CEO Erik Volden in Kavli Holding.
Orkla Foods will take over all of the Danish operations when the competition authorities have issued the necessary authorisations, probably in late Q1 2016. During an interim period, Orkla will have a license to use the Kavli brand in Denmark for current products and will also purchase IT services from the group.
The Norwegian owned food manufacturer Kavli will, after the divestment, have operations in Norway, Sweden, Finland and the United Kingdom. The Group had a turnover exceeding 3 billion Norwegian kroner in 2014, and had an operating profit (EBITA) of 221,5 million kroner. The Kavli Group is fully owned by The Kavli Trust – a charitable trust which annually donates significant funds to humanitarian causes, research and culture.
For further information
Erik Volden, CEO, telephone. +47 476 02 200