Sale of Arne B. Corneliussen to Orkla
On 25 October 2017, our client, DAT-Schaub A/S, part of Danish Crown, announced that it had reached an agreement with Orkla Food Ingredients, a division of Orkla ASA, in relation to the sale of 100% of the shares in its subsidiary Arne B. Corneliussen AS. The terms of the transaction were not disclosed.
Established in 1949, Arne B. Corneliussen is the leading supplier of ingredients for the Norwegian meat industry. With 32 employees, the Oslo-based company supplies its customers with a full range of spices, marinades, seasonings and other functional ingredients as well as packaging solutions. Arne B. Corneliussen has been part of DAT-Schaub since 1995 and generated revenues of NOK 188 million in 2016.
Jan Roelsgaard, CEO of DAT-Schaub, said “We have had nothing but good experiences during our period as owners of Arne B. Corneliussen, but the time has now come to concentrate our operations. We think that a Norwegian owner will be positive for the company, and we look forward to continuing the close collaboration between DAT-Schaub and Arne B. Corneliussen”
The agreement is subject to the approval of the Norwegian competition authorities.