Food acquisition news : Norwegian conglomerate Orkla has agreed to acquire Agrimex, a frozen vegetable producer based in the Czech Republic, for an undisclosed price through its wholly-owned subsidiary Hame.

The acquisition is to help Hame consolidate its place in the frozen vegetable category, stated Orkla.

Hame is a branded food company with business in the Czech Republic and Slovakia. It is into the production of liver paté, ketchup, jam, ready meals, tinned vegetable and baby food.

Commenting on Orkla acquisition of Agrimex, Atle Vidar Nagel Johansen who is the EVP of Orkla and CEO of Orkla Foods, said:  “Agrimex and Hamé are a good fit. We are market leader in several categories in the Czech Republic and Slovakia, and by purchasing Agrimex we will also acquire a solid foothold in frozen vegetables.

“Furthermore, we are strengthening our position in the out-of-home sector since more than one fourth of Agrimex’s sales are made through this channel.”

Agrimex operates an automated production factory in Panenske Brezany, located north of Prague. Its sources its raw materials from local Czech farmers near the factory location.

Agrimex products are sold under the brands – Dione, Agrimex Foodservice and Dione Premium.

Established in 1995, the privately owned Agrimex had made revenue of CZK260 million ($12 million) in 2016. The frozen vegetable producer employs 32 people.

Its new owner Orkla supplies branded consumer goods and concept solutions in the Nordics, Baltics and certain markets in Central Europe and India to the grocery, out-of-home and bakery markets.

Last week, Orkla’s subsidiary Orkla Foods Danmark had agreed to divest its salad business K-Salat to Stryhns, a member of the Norwegian Agra group for an undisclosed price.

Based in Denmark, K-Salat is into production of salad spreads, mayonnaise, potato salads, remoulade and dressings.

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  Agrimex, Czech Republic, Food acquisition news, Frozen vegetable producer, Hame, Orkla, Orkla Foods Danmark, Stryhns