Nic Finland acquires Snackfood

Nic Finland Oy («Nic Finland»), part of Nic Group and a subsidiary of Orkla Food Ingredients, has signed and completed an agreement to acquire 100% of the shares in Snackfood Oy (“Snackfood”) from their current owners.

Snackfood supplies “on-the-go-food” and beverage solutions, such as slush, popcorn and soft ice, to amusement parks and foodservice players. The company has four employees, recorded revenues of EUR 2.2 million in 2023 and is based in Helsinki. It is envisaged that Snackfood will be merged with Nic Finland, which will more than double in size following the combination of the two entities.

“We are impressed by Snackfood’s strong development since its foundation which has enabled them to become an important player in a niche market. The combination of Snackfood and Nic Finland will expand the product offering of both companies,” says Nic Sweden AB and Nic Finland CEO Kristoffer Enander.

Snackfood was formerly owned by Tom Lindberg, Sven Rönnqvist and Timo Aheristo. Mr. Lindberg and and mr. Rönnqvist are active in the company in their roles as CEO and CFO respectively.

“Since its establishment in 2006, we have developed Snackfood to become a trusted partner for hundreds of customers across the country. Becoming part of Nic Finland is a natural next step for Snackfood and we are confident that a larger entity will strengthen their service offering to both customers and suppliers. Sven and myself will remain in the company to ensure stability in the transitionary period and together with new colleagues continue to develop the market for Snackfood and Nic products,” says Snackfood CEO and co-owner Tom Lindberg.

The parties have agreed to keep the purchase price confidential.

About Orkla Food Ingredients

Orkla Food Ingredients (“OFI”) supplies ingredients to a broad range of customers in the bakery, ice cream and plant-based markets, and has a leading position in Europe and a platform for growth in the USA. Important sales channels include industrial manufacturers that chiefly manufacture and supply products to the grocery channel, the Out of Home channel, for example through artisanal bakeries and ice cream kiosks, and direct sales to consumers. The biggest product categories are bread and cake improvers and mixes, yeast, marzipan, ice cream ingredients and margarine and butter blends.

About Nic Group

Nic Group (“Nic”) is one of eleven business units in OFI and is the leading ice cream ingredients and accessories player in Europe, with strong market positions in the Nordics, Benelux, UK and Germany. Nic has a one stop shop business model and supplies their customers with categories such as sprinkles, waffles, non-food, soft-ice, slush and gelato.