Orkla ASA

Orkla ASA is a Norwegian listed group whose present activities center on branded consumer goods, industrial materials and selected investments. Headquartered in Oslo, the group operates across the Nordic region, the Baltic states, Central and Eastern Europe, Asia and the United States. Its consumer-facing businesses cover food, snacks, personal care, household products, health products and food ingredients, with a portfolio that includes brands such as Abba Seafood, Beauvais, Felix, Göteborgs Kex, KiMs, Lilleborg, MTR Foods, Nidar, OLW, Panda, Pierre Robert, Stabburet and Sætre. Orkla also has industrial and investment interests, including aluminium-related businesses, power assets, real estate connected with its operations and a significant ownership position in the paint producer Jotun. The group’s origins lie in mining at Løkken Verk in central Norway. Pyrite extraction began there in 1654, followed later by copper mining. The modern corporate predecessor, Orkla Grube-Aktiebolag, was established in 1904 by Christian Thams to commercialize the mining operation. The company built the Thamshavnbanen railway to connect Løkken Verk with the port and smelting facilities at Thamshavn; the railway became notable as Norway’s first electric railway and is now preserved as a museum railway. Orkla was listed on the Oslo Stock Exchange in 1929, and a new smelting plant at Thamshavn began operating in 1931. From the mid-twentieth century onward, Orkla increasingly developed beyond mining and metallurgy. It established an investment portfolio in 1941 and opened an Oslo office in 1975. The company expanded into media in the 1980s, food and beverages in the 1990s and materials and industrial businesses in the 2000s. Important structural steps included the 1986 merger with Borregaard, the 1992 merger with Nora Industrier, and the creation of a large media operation through acquisitions in Norway, Denmark and the magazine-publishing sector. Orkla later sold or separated several of these businesses, including its media activities, Borregaard and its interests in major aluminium and beverage ventures. The group’s strategic profile has progressively shifted toward branded consumer goods. Its operating model combines local and regional brands with shared group capabilities in manufacturing, distribution and category management. Orkla has nevertheless retained a diversified structure rather than becoming a pure consumer-products company. Its portfolio has included industrial materials, aluminium solutions, energy generation, real estate and financial investments, while its ownership in Jotun has remained an important strategic investment. Orkla’s transactions illustrate this portfolio-management approach. It acquired Elkem and Sapa in 2005, bought Estonian confectionery producer Kalev in 2010, sold Elkem to China National Bluestar in 2011, separated Borregaard through a 2012 Oslo listing and sold its 50 percent interest in Sapa in 2017. In 2018 it announced the acquisition of Finnish restaurant-chain operator Kotipizza Group. In 2022, Orkla Health acquired the Healthspan Group, a United Kingdom dietary-supplements supplier, for £65 million on a cash-free and debt-free basis. Orkla therefore functions both as a house of consumer brands and as an active owner that reshapes its portfolio through acquisitions, divestments and listings.

Orkla’s historical roots reach back to pyrite mining at Løkken Verk in Sør-Trøndelag, Norway, in 1654. Copper mining was later attempted but was abandoned in 1845. The modern corporate organization emerged in 1904, when Christian Thams founded Orkla Grube-Aktiebolag to develop the Løkken Verk mining operation on a commercial scale. Development included the construction of Thamshavnbanen, an electric railway linking the mine with Thamshavn. The railway was an important industrial infrastructure project and is preserved today as a museum railway after mining at Løkken Verk ended on 10 July 1987. Orkla became a public company on the Oslo Stock Exchange in 1929. A new smelting facility at Thamshavn, outside Orkanger, opened in 1931 and provided the company with a major downstream industrial activity. In 1941 Orkla created a separate investment portfolio, an early indication that the company would eventually become more diversified than a mining and smelting enterprise. It opened offices in Oslo in 1975, strengthening the corporate and investment-management base that later supported expansion into new sectors. A major transformation began in the 1980s. In 1984 Orkla undertook a substantial expansion into Norwegian newspapers and formed Orkla Media, which became one of Norway’s three largest media groups. The media portfolio expanded in 1992 when Orkla Media acquired half of magazine publisher Egmont-Mortensen, and in 2000 when it added the Danish publisher Det Berlingske Officin. Orkla exited media in 2006 by selling the division to Mecom. In 1986 Orkla merged with Sarpsborg-based Borregaard and adopted the name Orkla Borregaard. The business then merged with Nora Industrier in 1992. During the 1990s, Orkla made a strong move into food and beverages, acquiring or investing in businesses such as Swedish brewery Pripps, Abba Seafood, Baltic Beverages Holding and Procordia Food. Ringnes and Pripps were combined with Carlsberg Breweries in 2000, giving Orkla a 40 percent holding in the enlarged brewing group. Orkla sold that stake in 2004. The company expanded into industrial materials during the 2000s. It acquired Norwegian materials producer Elkem and Swedish aluminium group Sapa in 2005. Orkla also continued building its food portfolio, including the 2010 acquisition of Estonian confectionery company Kalev. Elkem was sold to China National Bluestar in January 2011. Borregaard was subsequently separated from Orkla and listed on the Oslo Stock Exchange in October 2012, although Orkla retained a minority position. Orkla sold its 50 percent interest in Sapa in 2017. During the late 2010s and early 2020s, the group emphasized branded consumer goods and selective portfolio development. In November 2018 it announced the acquisition of Finnish food-service and restaurant-chain operator Kotipizza Group. In March 2022, Orkla Health acquired Healthspan Group Limited, a dietary-supplements supplier, for £65 million on a cash-free and debt-free basis. Alongside its consumer-goods operations, Orkla has maintained investments in Jotun, aluminium-related activities, power generation and property. This combination of operating companies and financial holdings defines Orkla as a diversified Nordic group rather than a single-category manufacturer.

1. 2022Healthspan acquired

   Orkla Health acquires Healthspan Group Limited, a United Kingdom dietary-supplements supplier.

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2. 2018Kotipizza acquisition announced

   Orkla announces plans to acquire Finnish restaurant-chain operator Kotipizza Group.

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3. 2017Sapa interest sold

   Orkla sells its 50 percent interest in Sapa Group.

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4. 2012Borregaard listed independently

   Borregaard is spun off and listed on the Oslo Stock Exchange, while Orkla retains a minority stake.

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5. 2011Elkem divested

   Orkla sells Elkem to China National Bluestar.

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6. 2010Kalev acquired

   Orkla acquires Estonian confectionery company Kalev.

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7. 2006Media division sold

   Orkla sells its media division to Mecom.

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8. 2005Acquisition of Elkem and Sapa

   Orkla acquires Norwegian materials company Elkem and Swedish aluminium group Sapa.

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9. 2000Carlsberg investment

   Ringnes and Pripps are combined with Carlsberg Breweries, in which Orkla takes a 40 percent ownership position.

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10. 1992Nora Industrier merger and magazine expansion

    Orkla merges with Nora Industrier and adds a half-interest in Egmont-Mortensen through Orkla Media.

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11. 1986Merger with Borregaard

    Orkla merges with Borregaard and operates as Orkla Borregaard.

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12. 1984Expansion into media

    Orkla begins a major acquisition program in Norwegian newspapers and builds Orkla Media.

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13. 1975Oslo office opens

    The group opens an office in Oslo, which later becomes its headquarters.

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14. 1941Investment portfolio established

    Orkla begins managing a separate investment portfolio, broadening its corporate scope beyond mining and smelting.

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15. 1931Thamshavn smelting plant opens

    A new smelting plant begins operations at Thamshavn near Orkanger.

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16. 1929Stock-exchange listing

    Orkla becomes listed on the Oslo Stock Exchange.

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17. 1904Orkla Grube-Aktiebolag is founded

    Christian Thams establishes Orkla Grube-Aktiebolag to develop commercial mining at Løkken Verk.

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18. 1654Mining begins at Løkken Verk

    Pyrite mining begins at Løkken Verk in central Norway, establishing the historical foundation of the Orkla group.

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A Nordic-rooted, internationally active portfolio group focused primarily on branded consumer goods while retaining selected industrial, energy and financial investments.

• Orkla FoodsPackaged foods

  Orkla Foods comprises branded food businesses serving primarily Nordic, Baltic and Central and Eastern European markets. Its portfolio includes prepared foods, sauces, seafood, bakery products and other everyday grocery categories sold under regional names such as Abba Seafood, Beauvais, Felix, Procordia Food and Stabburet.

• Orkla SnacksSnacks and confectionery

  The snacks and confectionery activities include salty snacks, biscuits, sweets and chocolate products. Representative brands and businesses include Göteborgs Kex, KiMs, Nidar, OLW, Panda and Kalev, with products distributed across the Nordic and Baltic regions and selected international markets.

• Orkla CarePersonal care and household products

  Orkla Care covers consumer products for personal care, household use and related everyday needs. Lilleborg is among the businesses associated with this area, which is oriented toward branded products sold through grocery, retail and other consumer channels.

• Orkla HealthHealth products and dietary supplements

  Orkla Health develops and markets health-oriented consumer products, including dietary supplements and related self-care offerings. Its acquisition of Healthspan Group in 2022 expanded the group’s position in supplements and added a United Kingdom-based supplier to the portfolio.

• Orkla Food IngredientsFood ingredients

  Orkla Food Ingredients supplies ingredients and related products used in baking, food preparation and professional or consumer applications. The business complements Orkla’s branded food operations by serving customers further upstream in the food value chain.

• Pierre Robert GroupClothing and apparel

  Pierre Robert Group is associated with consumer apparel brands including Pierre Robert and La Mote. Its products extend Orkla’s branded-consumer-goods portfolio into clothing and everyday textile products, particularly in Nordic retail markets.

• Aluminium products and solutionsIndustrial materials

  Orkla has historically held substantial aluminium-related activities, including its former ownership of Sapa Group and other aluminium businesses. The group’s industrial portfolio has been subject to restructuring and divestment, so the exact current operating perimeter requires verification from a current company report.

• Energy and investment assetsPower and investments

  Other activities associated with Orkla include hydropower assets, the Sarp Falls power plant, an 85 percent interest in AS Saudefaldene, real estate related to group operations and strategic financial investments such as the stake in Jotun.

• 2022Healthspan Group acquisitionM&A

  Orkla Health expanded its dietary-supplements activities.

  What changed. Orkla Health acquired 100 percent of Healthspan Group Limited.

  Aftermath. The acquisition strengthened Orkla’s presence in the United Kingdom supplements market.

  Purchase price. £65 million (2022; cash-free and debt-free basis)

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• 2018Kotipizza Group acquisitionM&A

  Orkla sought to expand its consumer and food-service activities in Finland.

  What changed. Orkla announced the acquisition of Finnish restaurant-chain operator Kotipizza Group.

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• 2017Sale of Sapa interestM&A

  Orkla held a 50 percent interest in Sapa Group as part of its industrial materials portfolio.

  What changed. Orkla sold its interest in Sapa.

  Aftermath. The transaction further concentrated the group away from that aluminium ownership position.

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• 2012Separation of BorregaardM&A

  Borregaard had been part of the combined Orkla Borregaard group since the 1986 merger.

  What changed. Orkla divested Borregaard through a listing on the Oslo Stock Exchange while retaining a minority holding.

  Aftermath. Borregaard became an independently listed company and Orkla continued as a minority investor.

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• 2011Divestment of ElkemM&A

  Orkla was reshaping its diversified industrial portfolio after acquiring Elkem in 2005.

  What changed. The group sold Elkem to China National Bluestar.

  Aftermath. The sale reduced Orkla’s direct exposure to Elkem’s industrial materials operations.

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• 2022Orkla Health acquires Healthspan Group

  Orkla Health acquired all shares of United Kingdom dietary-supplements supplier Healthspan Group for £65 million on a cash-free and debt-free basis.

  M&A
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• 2022Orkla Health acquired Healthspan Group

  Orkla Health acquired all shares of British dietary-supplement supplier Healthspan Group in a transaction described as being conducted on a cash-free and debt-free basis.

  M&A
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• 2018Orkla announces acquisition of Kotipizza Group

  Orkla announced an agreement to acquire Finnish restaurant-chain operator Kotipizza Group as part of its expansion in consumer-oriented businesses.

  M&A
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• 2018Orkla announced the acquisition of Kotipizza Group

  Orkla announced plans to acquire Finnish restaurant and food-service company Kotipizza Group, extending its Nordic consumer and food-service portfolio.

  M&A
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• 2017Orkla completes sale of Sapa interest

  Orkla sold its 50 percent interest in Sapa Group, ending a major aluminium-related ownership position.

  M&A
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• 2017Orkla sold its interest in Sapa Group

  Orkla sold its 50 percent interest in Sapa Group as part of the continuing simplification of its industrial investment portfolio.

  M&A
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• 2012Borregaard is separated and listed

  Borregaard was divested and introduced on the Oslo Stock Exchange, with Orkla retaining a minority interest.

  M&A
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• 2011Orkla sells Elkem to China National Bluestar

  Orkla divested Elkem in a sale to China National Bluestar, reducing its direct exposure to that industrial materials business.

  M&A
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• 2011Orkla sold Elkem to China National Bluestar

  Orkla divested Elkem, the Norwegian materials company it had acquired several years earlier, to China National Bluestar.

  M&A
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1. Orkla ASA