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Orkla Foods acquires Polish seafood company
The economic development i Poland is showing a positive trend, and the market for processed seafood is climbing. Superfish is a well-run company with good product distribution reporting annual sales of approx. NOK 650 million.
- Orkla Foods is keen to step up activities in Poland. Abba Seafood’s seafood expertise will contribute towards developing Superfish’ activities throughout the value chain, says Orkla Foods MD Håkon Chr. Andersen.
Superfish’ products are sold under the brand ”Superfish”, which enjoys a strong position in the minds of the consumers. The company has four production plants in Northern Poland with a total of about 1000 employees.
According to plan, the acquisition is to take place in September. Until 2008 succsessively, Orkla Foods is entitled to buying the remaining shares. The parties have agreed not to disclose the acquisition price.
Since the mid-eighties, Abba Seafood has been exporting seafood to Poland, where Orkla Foods has been established since the acquisition of Kotlin in 1997.
Orkla Foods is the leading Nordic developer, producer and marketer of foods. The company comprises the divisions Stabburet, Procordia Food, Beauvais, Felix Abba, Orkla Foods International, Abba Seafood and Orkla Food Ingredients. Operating income totalled NOK 10 billion in 1999.
Ref.:
Lisbeth Lindberg
SVP Information & IR
Tel.: +47-2254 4423
Niklas Stoltz
AVP Investor Relations
Tel: +47-2254 4426
Håkon Mageli,
SVP Information Orkla Foods
Tel: +47-6681 6100
Date: 16. jun 2000 Kl 08.06
