Through its wholly-owned subsidiary NIC Enterprises Limited, Orkla Food Ingredients has signed and completed an agreement to purchase 100% of the shares in the sales and distribution company Gortrush Trading Ltd. ("Gortrush").

Gortrush is a well-established supplier of ice cream ingredients and accessories to wholesalers, ice cream retail outlets and distributors in Ireland, Northern Ireland and the rest of the UK. Orkla has built up a solid position in the UK in ice cream ingredients and accessories through NIC UK, which is part of the Orkla Food Ingredients business area.

“We already hold a strong position in ice cream ingredients and accessories in the UK market. The acquisition of Gortrush is strategically right for increasing our foothold in Northern Ireland and gaining better access to the Irish market. Gortrush’s product assortment is a good match to that of NIC UK, and the businesses complement each other well,” says Tor Osmundsen, CEO of NIC Group.

Gortrush was established 50 years ago, and operates from its facilities in Omagh, Northern Ireland. The business is owned and headed by Kieran Howe.

The company has 13 employees and had a turnover of GBP 4.5 million (approx. NOK 54 million) in the last 12 months as at 30 September 2020. The company will be consolidated into Orkla’s financial statements as of 1 December 2020.

The parties have agreed not to disclose the purchase price.

About Orkla

Orkla is a leading supplier of branded consumer goods and concept solutions to the consumer, out-of-home and bakery markets in the Nordics, Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and its headquarters is in Oslo. In 2019, the Group had a turnover of NOK 43.6 billion, and approximately 18,500 employees as of 31 December 2019.

About Orkla Food Ingredients

Orkla Food Ingredients is the leading player in the bakery and ice cream ingredients sector in the Nordic region, in addition to holding solid market positions in selected countries in Europe. Its biggest product categories are bakery and ice cream ingredients, margarine and butter blends, marzipan and plant-based food products. Orkla Food Ingredients has sales and distribution companies in 22 countries, ensuring proximity to customers.

Orkla ASA

Oslo, 1 December 2020

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