M&A

Orkla acquires British chocolatier and specialty fudge company County Confectionery

By Douglas Yu contact

- Last updated on GMT

County Confectionery has a new owner. Pic: County Confectionery
County Confectionery has a new owner. Pic: County Confectionery

Related tags: Takeover

Norwegian supplier Orkla has agreed to acquire the British chocolatier and specialty fudge maker County Confectionery through its wholly-owned subsidiary NIC Group for undisclosed sum.

County is a family-owned company established in 1983 with 95 employees with head office and production facilities located St. Ives in Cornwall, UK.

According to Orkla, County has a growing customer base including retailers, wholesalers and foodservice, and it is a long-standing supplier to Orkla Food Ingredients in the UK.

Orkla, on the other hand, said it holds a strong position as a bakery ingredients supplier in the Nordic region and selected countries in Europe and has built up a robust business within the ice cream ingredients and accessories segment in the UK.

“County has a long history of manufacturing high quality fudge and chocolate products. Orkla and County are a good strategic fit, and the acquisition complements Orkla’s position as a supplier of ingredients and accessories to the UK bakery, chocolate and ice cream market,”​ says Tor Osmundsen, CEO of NIC Group.

He noted County had a turnover of £8.6m ($115m) for the financial year that ended in May 2018. The company will be consolidated into Orkla’s financial statements as of October 1, 2018.

Related topics: Manufacturers, Chocolate, Candy, Premium

Related news