Press release -
Orkla acquires Norgesplaster
Orkla Wound Care has signed and completed an agreement to purchase 100% of the shares in Norgesplaster Holding AS (“Norgesplaster”).
The company holds good positions in the wound care and first aid equipment market, and with the acquisition of Norgesplaster Orkla Wound Care has strengthened its presence in the pharmacy channel and the market for first aid products.
The product portfolio is mainly marketed under the Norgesplaster and Snøgg brands, and is primarily sold in the pharmacy channel, B2B, through distributors and as exports.
Orkla Wound Care already holds leading positions in wound care and first aid equipment in several European markets with strong brands such as Cederroth First Aid and Salvequick. Orkla Wound Care is part of Orkla’s business area Orkla Care, which has strong positions in the Nordic region in personal care, cleaning and health products.
“Norgesplaster represents strong brands in growing categories and has a well-run distribution platform in attractive sales channels. The acquisition of Norgesplaster fits our strategy in terms of strengthening Orkla’s position in wound care and first aid equipment, and will provide us with a stronger presence in the pharmacy channel and B2B,” says Maria Lundman-Hedberg, CEO of Orkla Wound Care.
Norgesplaster is the market leader in wound care in the pharmacy channel in Norway, in addition to being one of the world’s largest manufacturers of adhesive foil for the production of pressure sensitive ECG electrodes and grounding pads. Snøgg is a leading brand for first aid, emergency medical and medical consumables. Norway is the company’s largest single market, however approximately 60 per cent of the company’s sales revenues come from exports.
Norgesplaster is a family-owned business established in 1938. The company’s headquarters and production facilities are located in Vennesla, Vest-Agder. The business is headed by Per Turnes, and has 66 employees. In 2019, Norgesplaster had a turnover of NOK 170 million and EBITDA of NOK 17 million.
The company will be consolidated into Orkla’s financial statements as of 1 April 2020. The parties have agreed not to disclose the purchase price.
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Orkla is a leading supplier of branded consumer goods and concept solutions to the consumer, out-of-home and bakery markets in the Nordics, Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and its headquarters is in Oslo. In 2018, the Group had a turnover of NOK 41 billion, and approximately 18,500 employees as of 31 December 2018.
