Orkla To Acquire Hungarian Sandwich Maker Khell-Food
Orkla Foods Europe has entered into an agreement to purchase 100% of the shares in Hungarian ready-made sandwiches and baguettes maker Khell-Food for an undisclosed amount.
Established in 1992, Khell-Food distributes its goods under the its own brand across Hungary from its production facility outside Budapest.
The agreement, subject to approval from relevant Hungarian authorities, is expected to close during the first quarter 2023.
Paul Jordahl, CEO of Orkla Foods Europe said, “We have achieved success in corresponding categories in the Czech Republic and Slovakia and will continue to build on this experience. This acquisition is also in line with Orkla’s strategy to grow within the out-of-home channels.“
The acquisition of Khell-Food will be carried out by Orkla Foods Česko a Slovensko (CaS), which is part of Orkla Foods Europe, the company noted.
CaS is operates in the Hungarian market through its subsidiary Hamé Hungary.
Khell-Food is being sold by the founder Zoltán Kelényi, who will continue as CEO of the company.
The company has reported annual sales growth of 11% from 2017 to 2021, and in 2021 it generated turnover of around NOK 85 million based on the current exchange rate.
Related news
European retailers object to Kellanova takeover by Mars
The European Commission is to conduct an antitrust investigation into…
Read more >General Mills selling North American yogurt business
General Mills, Inc. is selling its North American yogurt business…
Read more >7-Eleven feels undervalued by Couche-Tard
7-Eleven is playing hard to get by Couche-Tard. The Japanese…
Read more >Related news
A large wave of price increases is expected in trade
In the first half of 2025, GKI Economic Research Ltd.…
Read more >Children’s future is at stake now – you can vote in 198 Tesco stores
In 198 Tesco stores across the country, customers can vote…
Read more >Inflation accelerated to 2 percent in the eurozone and 2.3 percent in the EU on an annual basi
Inflation in the euro area and the European Union accelerated…
Read more >