OSLO, NORWAY — Orkla Food Ingredients (OFI), a business unit of Orkla ASA, Oslo, Norway, has acquired Denali Ingredients LLC, New Berlin, Wis. Terms of the acquisition were not disclosed.
Orkla Food Ingredients is a supplier of bakery and ice cream ingredients in the Nordic and Baltic markets. Denali Ingredients is a supplier of ingredients to the ice cream and frozen desserts category in the United States. The acquisition is Orkla Food Ingredients’ first in the United States.
“With this acquisition, OFI is strengthening its position as a leading ingredients supplier to the bakery, ice cream and confectionery industries,” said Johan Clarin, executive vice president and chief executive officer of OFI. “We have a stated strategy of increasing our exposure to markets and categories with higher growth and margins. Denali Ingredients, with its leading position in the attractive US market, fits well in this picture. With the addition of Denali Ingredients to our group, OFI will increase the size of its sweet ingredients area by 45%.”
Denali Food Ingredients will remain based in New Berlin and Neal Glaeser will continue as president and CEO of the business.
“We are very pleased to become part of OFI, which is already a major player in Denali’s categories in Europe and has a deep understanding of our industry,” Mr. Glaeser said. “I am convinced that together we will continue Denali’s journey of growth and value creation. As a team, we look forward to a fruitful partnership and cooperation.”