Norwegian Orkla Brands International withdraws from the Polish food market. First, it had sold Superfish to Graal. Now, it has sold Elbro dumpling producer and Kotlin, the producer of vegetable products. Agros Nova is the buyer, the owner of brands including Lowicz, Tarczyn or Krakus. The transaction will be finalized provided that competition authorities approve of it.
Kotlin has two strong brands: Kotlin (ketchups, concentrates, sauces and ready-to-eat dishes) and Sorella (jams). Elbro sells pasta and dumplings under its own brand. Both companies employ 218 people and have joint sales of PLN 114m (EUR 33.9m). Thanks to the acquisition, Agros Nova group should exceed PLN 1bn of annual sales which last year amounted to PLN 850m. Robert Niewiadomski, one of Agros Nova owners, says that Kotlin and Elbro will be individual subsidiaries within the group.
(PLN 1 = EUR 0.298)