Orkla consolidates Fun soft drink ownership with O. Kavli acquisition
Orkla will now consolidate the ownership of the Fun soft drinks brand
North European food and drink group Orkla has secured the takeover of Denmark's O. Kavli.
The transaction, announced earlier today, will see Orkla purchase the Danish unit from Kavli Holding. Following completion, Orkla will incorporate O. Kavli's ownership of the Fun soft drinks brand in Denmark into its broader ownership of the trademark across the Nordic region.
As well as Fun, O. Kavli owns a range of cordial, juice and mulled wine brands.
"Our acquisition of O. Kavli represents an investment in the beverages category and an extension of our groceries portfolio," said Orkla's CEO, Atle Vidar Nagel-Johansen. "The company's products complement our existing product range. Further, O. Kavli has a private label and an export business with long-term customer relations.
"We look forward to adding beverages to the portfolio."
Financial details behind the transaction, which is expected to complete next month, were not disclosed.
Launched in 1935, O. Kavli generated sales in 2014 of DKK170m (US$24.7m).
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