Nordic consumer goods player expands in personal care

By Lucy Whitehouse

- Last updated on GMT

Nordic consumer goods player expands in personal care

Related tags Personal care Sweden

Orkla, a leading supplier of branded consumer goods and concept solutions in the Nordic region, has announced it is making strides into personal care.

Orkla primarily works within  the grocery, out-of-home and bakery markets in the Nordics, Baltics and some markets in Central Europe and India.

The Oslo-headquartered company says that it has agreed the acquisition of 100% of the shares in Danish company, Riemann Holding, which specialises in sun protection and antiperspirant products.

With the acquisition of Riemann, Orkla Care is strengthening its presence in the pharmacy channel,​” the company confirmed in a statement.

Scandinavian beauty: pure and organic

The move comes at a time when Scandinavian beauty is increasingly tipped as having potential to develop as a trend in the coming period.

Scandinavian countries having been taking the lead recently as ingredients hot spots where consumers keen on natural and wellbeing are looking for inspiration.

Indeed, according to a 2016 Soil Association report, Denmark boasts the highest organic food market share in the world, for example, and Sweden has one of the highest proportions of organic-certified farmland in Europe.

A strong fit

Riemann and Orkla assert that the two companies are a good strategic fit, with Orkla Care already holding leading positions in the personal care segment in the Nordic region, in addition to strong positions in Europe in dietary supplements, wound care and painting tools.

"Riemann has an attractive position in the pharmacy channel and a presence in Orkla's priority growth markets. The purchase of Riemann complements Orkla's personal care product portfolio, and gives us access to new growth platforms. The acquisition also offers potential for synergies with our present operations,"​ says Stig Ebert Nilssen, EVP and CEO of Orkla Care.

Riemann's businesses will be continued under the Orkla Home & Personal Care business unit, and the company will be consolidated into Orkla's financial statements as from 1 June 2017. The parties have agreed not to disclose the purchase price.

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