Orkla to acquire Swedish firm Lecora

Norway-based supplier of branded consumer goods Orkla, through its subsidiary Orkla Foods Sverige, has signed an agreement to purchase Swedish firm Lecora.

Financial details of the deal have not been divulged.

Established in 1963, Lecora is a family-owned company engaged in the production of frozen and chilled vegan and vegetarian dishes. It also offers ready meals and schnitzel.

With a workforce of 35 employees, Lecora’s headquarters is located in Vadstena, Sweden.

Orkla Food Sverige CEO Henrik Julin said: “Orkla holds a leading position in the Swedish grocery trade, in numerous food categories. With the purchase of Lecora, we are strengthening our out-of-home business and expanding our portfolio of organic, vegan and vegetarian food products.

“Lenora’s sustainability work and use of local ingredients make our ambitions for sustainability even greater. Lecora is a strong brand that we will develop further, and we value its local approach and the trust customers and consumers have in their products.”

The out-of-home sector is considered to be the largest customer group for Lecora, but it also has sales in the grocery trade.

The company had a turnover of SEK95.9m ($10.3m), which was primarily generated in Sweden, as well as export sales to the European Union (EU).

In another development, Orkla Food Ingredients entered an agreement with Greek company Stelios Kanakis Industrial and Commercial (Kanakis) to acquire a 65.8% stake in the company for €4.35 per share.

Kanakis is engaged in the sale and distribution of confectionery, bakery and ice cream ingredients in Greece.

In January, Orkla completed the acquisition of Danish porridge rice brand Pama.

The deal was executed through Orkla’s wholly-owned subsidiary Orkla Foods Danmark.