Orkla Group to acquire stake in Icelandic chocolate company Nói Siríus

 

Nói Siríus was established in 1920 and owns “well-known” Icelandic chocolate brands such as Síríus, Nóa Konfekt, Nóa Kropp, Nóa Páskaegg and Konsum. The business’ head office, production plants and warehouse facilities are located in Reykjavik, and the company is headed by managing director Finnur Geirsson, who will continue to lead the company after completion of the agreement. Under the terms of the agreement, Orkla has the possibility to purchase the remaining shares in the Icelandic company after 2020. Nói Siríus registered turnover of ISK 3.43 billion ($27.4 million) in 2018, and 70% of its total sales were in the domestic market. Orkla claims that the strength of Nói Siríus’ position within the Icelandic market will significantly enhance its presence in the country.