Orkla Group acquires Latvian chocolate brand Laima

Orkla has entered into an agreement with Nordic Partners Food Limited to purchase NP Foods Group, including the companies and brands Laima, Staburadze, Gutta, Margiris and Staburadzes Konditoreja. According to the company, the acquisition will nearly double the scale of Orkla’s Baltic operations, making Orkla one of the largest consumer goods companies in the region.

“With a history dating back more than 140 years, Laima is one of the strongest confectionery brands in the Baltic region. The acquisition of Laima and other well-established brands is strategically important to Orkla, and will significantly strengthen our foothold in the region,” says Orkla President and CEO Peter A. Ruzicka. The iconic chocolate brand Laima has a market share of more than 30% in the Latvian chocolate market. The local Selga, Staburadze, Gutta, Everest, Fresh Walk and Pedro brands will also boost Orkla’s presence in the Baltic biscuits, cakes, juice, water and ready meal markets.

Orkla is already represented in the Baltic region through the branded consumer goods companies Spilva and Latfood (Latvia), Kalev and Põltsamaa Felix (Estonia) and Suslavičius-Felix (Lithuania), which hold solid market positions in the confectionery, ready meals and ketchup segments. “We have a strong portfolio of local brands with leading market positions. The newly acquired companies are a good strategic fit for Orkla, and will strengthen our position as the leading consumer goods company in the region,” says Christer Åberg, CEO of Orkla Confectionery & Snacks.

www.orkla.com