Orkla Foods Romania, a major player on the domestic market of consumer goods, paid 16.3m euros for the acquisition of margarine producer Royal Brinkers Romania, a deal announced last December.
Orkla Foods Romania (OFR) took over 95.35% of the share capital from RBH International BV, paying 15.53 million euros, according to the information published by the company in the Official Gazette. OFR also bought 4.64% from Brinkers Bernardus Hubertus Cornelis for 757,000 euros. According to the same source, Brinkers Bernardus sold 0.01% to Orkla Foods AS for 582 euros.
Norwegian group Orkla and its Romanian branch in December 2005 bought all the shares in Royal Brinkers Romania, the second leading producer of margarine for household use in the country, through its Linco, Holland and Unirea brands. Orkla also bought the two platforms Royal Brinkers owns in Romania, the margarine factory in Bucharest and the frozen dough facility in Iasi.
The margarine market exceeded 35 million euros last year, with consumption reaching approximately 23,000 tonnes, according to the data provided by market research company AC Nielsen. According to the same sources, the top three margarine producers in terms of volume of sales were Unilever, Royal Brinkers and Orkla Foods Romania. The three companies held over 95% of the market last year.
OFR's margarine brands are Wiesana, Fr?hst?ck and Bunatati de la Bunica, joined by the three brands in Royal Brinkers' portfolio after the takeover. Orkla's portfolio currently includes nine brands, six of which are margarine brands, a category that is the most important growth drive for the business of the Norwegians on the domestic market.
According to recent estimates provided by the company, Orkla expects 10-25% growth for all product categories this year. To attain its sales targets, Orkla has a 3 million-euro promotion budget for the second half of this year.
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