Through its wholly-owned subsidiary Orkla Foods Sverige AB, Orkla has signed and completed an agreement with PepsiCo, Inc. (PepsiCo) to purchase the Havrefras brand, including Rug Fras and Mini Fras, which holds a strong market position in Scandinavia in healthy breakfast cereals.
Orkla currently distributes Havrefras products for PepsiCo in Norway, Sweden and Denmark.
“Orkla holds a leading position in the Scandinavian grocery trade in a number of attractive categories. By acquiring Havrefras we have strengthened our portfolio with a well-known brand that is a great addition to our other breakfast products,” said Ann-Beth Freuchen, EVP and CEO of Orkla Foods, Nordics and Baltics.
“All the Havrefras products bear the Green Keyhole healthy food label and thus contribute to achieving Orkla’s goal of making everyday food healthier," said Orkla President & CEO Jaan Ivar Semlitsch.
Havrefras is the market leader for healthy breakfast cereals in Denmark and Sweden and number two in Norway.
First launched on the market in 1959, the brand has been part of PepsiCo since the company’s acquisition of The Quaker Oats Company in 2001.
The acquisition of Havrefras is in line with Orkla’s strategy of further developing a portfolio with a strong health profile.
The agreement concerns the purchase of the Havrefras brand and does not include any employees or production facilities.
The parties have agreed not to disclose the purchase price.
Orkla will continue to be the distributor of PepsiCo’s other juice, breakfast cereal and snack products in the Nordic region, including Tropicana, Naked, Cruesli, Snack a Jacks, Doritos, Lay's and Bugles brands.
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