Orkla acquires Jordan
(Thomson Reuters ONE) -
Orkla has entered into an agreement to buy Jordan, a leading branded consumer
goods company in the oral hygiene, cleaning and painting tools segments.
Under the agreement, Orkla ASA will acquire 100% of the shares in Jordan
Personal & Home Care AS and Jordan House Care AS. In 2011, sales totalled
approximately NOK 900 million. Operating profit (EBITA) was NOK 90 million and
operating profit before depreciation and write-downs (EBITDA) was NOK 120
million. At year-end, the company had around 620 employees.
The purchase price for the company is NOK 1,180 million on a cash and debt-free
basis. The seller is Jordan AS, which has been a Norwegian family-owned company
since its establishment in 1837.
Jordan is market leader in the Nordic region in toothbrushes, toothpicks and
dental floss, as well as painting tools. In Norway, Jordan is the leading
supplier of dishwashing brushes and microfiber cloths to the grocery sector. The
company also exports its products to several countries outside the Nordic
region. Jordan is Europe's third largest manufacturer of painting tools, under
brands such as Anza, Spekter and Hamilton. Its subsidiary Peri-dent is one of
the world's leading manufacturers of dental floss.
"Jordan is a company with long-standing traditions, and has strong brands that
have established solid positions in their home markets. This acquisition is
fully in line with our strategy to expand in the branded consumer goods sector
in the Nordic region," says Orkla President and CEO Åge Korsvold.
Jordan will be part of Orkla Brands Nordic.
"In the past few years, Jordan has carried out major, significant improvement
projects that have laid the foundation for profitable growth. We have considered
various strategic courses of action to ensure the company's continued progress,
and are confident that Orkla as owner will take Jordan to new heights," says
Per-Arnfinn Brekke, CEO of Jordan and representative of the sixth generation of
family owners.
The agreement is subject to the approval of the Norwegian competition
authorities.
Orkla ASA
Oslo, 22 June 2012
Ref.:
Executive VP, Corporate Communications and Corporate Affairs
Håkon Mageli
Tel.: +47 928 45 828
Senior VP, Investor Relations
Rune Helland
Tel.: +47 22 54 44 11/+47 977 13 250
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Orkla ASA via Thomson Reuters ONE
[HUG#1621458]
Unternehmensinformation / Kurzprofil:
Datum: 22.06.2012 - 08:38 Uhr
Sprache: Deutsch
News-ID 159037
Anzahl Zeichen: 3299
contact information:
Town:
Oslo
Kategorie:
Business News
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