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Sunday, December 4, 2022

Orkla takes over Estonian chocolate factory

Norwegian industrial concern Orkla has acquired a chocolate factory in Tallinn that’s part of the Estonian national heritage. 

Orkla announced last week that it’s taking over Kalev, the Norwegian equivalent of Freia, which itself was taken over by Kraft of the US amidst much controversy back in the 1990s.

Now it’s a Norwegian firm that’s taking over a foreign operation, which is the leading firm in its field in its homeland. Kalev  has a 38 percent market share in Estonia, and revenues of NOK 220 million per year, reports newspaper Aftenposten.

Kalev will become the oldest company within Orkla, since Kalev was founded in 1806. The deal also includes Maiasmokk, the oldest café and bakery in the heart of Tallinn’s old city.

Orkla has been on an acquisition spree of sorts recently, reports Aftenposten, buying up Peterhof, a chocolate firm in Russia; Sonnevold Group, a Dutch firm supplying bakeries; and Caterline, a British firm supplying the ice cream industry.

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