Orkla expands in Denmark | Progresiv
Through its wholly owned subsidiary Odense Marcipan A / S, Orkla Food Ingredients has signed and entered into an agreement to purchase Igos A / S from Denmark, according to a press release from Orkla. 
Igos A / S supplies baked marmalades, fruit fillets and syrup for bakeries and pastries. They also have a wide range of organic variants, enlightened.
"Odense Marcipan has been aiming to expand the product range with marmalade and fruit fillings. The acquisition of Igos A / S is strategically correct to strengthen our platform in Scandinavia and Northern Europe. The agreement implies a potential for purchasing synergies and wider distribution for both businesses, says CEO of Odense Marcipan A / S, Niels S. Søgaard.
Igos A / S had a turnover of 44 million Danish kroner, approximately 56 million kroner, in 2017. Furthermore, the company had an operating profit of 2.9 million Danish kroner, equivalent to about 3.7 million kroner.
The company is consolidated on an accounting basis from 1 July 2018.
The parties have agreed not to publish the purchase price. (www.hegnar.no)
