Orkla’s purchase of Chips is perfect

The EU has given Norwegian snack firm Orkla the go-ahead to acquire Finnish rival Chips. The Norwegian food and consumer goods company has announced it has received 97.0% acceptance of its offer for Finnish listed snack company Chips. “The preliminary results show that shareholders who, together with Orkla, own a total of approximately 97.0 % of the shares and 98.1 % of the votes had accepted the offer at the end of the offer period,” Orkla said. The offer period expired on 4 March 2005.


According to just-food.com, the purchase of the Finnish snack food leader indicates Orkla s eagerness to expand the geographical reach of its portfolio of snack products. The deal strengthens its position in the Nordic countries, but it is Chips Russian and Baltic operations that really catch the eye. While the snacks market continues to expand in most major markets, health concerns over diet in western European and the US means this trend may level off. Emerging market access is therefore vital for Orkla s future growth.