Orkla Acquires Czech Frozen Vegetable Producer Agrimex
Oslo, Norway-headquartered Orkla ASA, through wholly owned subsidiary Hamé, has signed an agreement to purchase Agrimex, a producer of frozen vegetables and supplier of frozen fruits, herbs, mushrooms and ice cream in the Czech Republic. Terms of the deal were not disclosed.
Hamé is a branded food company in the Czech Republic and Slovakia, with high profiles in the liver paté, ready meals, ketchup, jam, baby food and canned vegetable sectors. Through the acquisition of Agrimex, its position in the processed vegetable category has been significantly bolstered.
“Agrimex and Hamé are a good fit. We are a market leader in several categories in the Czech Republic and Slovakia, and by purchasing Agrimex we will also acquire a solid foothold in frozen vegetables. Furthermore, we are strengthening our position in the out-of-home sector, since more than one fourth of Agrimex’s sales are made through this channel,” said Atle Vidar Nagel Johansen, Orkla executive vice president and chief executive officer of Orkla Foods.
Agrimex has a modern, automated production plant in Panenské Břežany, north of Prague. Raw materials are supplied by local farmers in the factory’s vicinity. The products are sold under the Dione, Dione Premium and Agrimex Foodservice brand names.
Established in 1995, the privately owned business has 32 employees and rang up sales of CZK 260 million (approximately NOK 96 million) in 2016. The company will be consolidated into Orkla’s financial statements as of December 1, 2017.
Orkla is a supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery sectors in the Nordics, Baltics and selected markets in Central Europe and India. It is listed on the Oslo Stock Exchange and had turnover of about NOK 38 billion and 18,000 employees on the payroll last year.