–
The food group Orkla, in which Stein Erik Hagen and his family are the largest owners, buys 75 percent of the shares in the Dutch pizza chain New York Pizza, according to a statement on Monday. The current owners will own the remaining shares.
– We are excited to have this agreement in place. New York Pizza is a well-run company with skilled management and a well-functioning franchise model. The acquisition of New York Pizza is in line with Orkla’s strategic ambition to grow in the “Out of home” channel, which has higher growth than traditional groceries, says Orkla’s CEO Jaan Ivar Semlitsch in the announcement.
Valued at 1.5 billion.
The agreement values New York Pizza at 145 million euros, equivalent to 1.5 billion kroner.
Last year, the chain sold 11.5 million pizzas and had a total turnover of 54.7 million euros, equivalent to 555 million kroner, including pizza dough production. The chain has 232 franchise-driven outlets, of which 229 in the Netherlands. At the turn of the year, New York Pizza opened its first outlet in Belgium in the city of Leuven and plans to open five new outlets in Belgium this year. In addition, two outlets have been opened in Cologne, Germany.
– We are happy to have Orkla on the owner side of New York Pizza. Orkla will be an important partner when we now grow further in the Netherlands and other nearby markets, says CEO Philippe Vorst of New York Pizza.
–
The purchase is subject to approval by the Dutch competition authorities. The transaction is expected to be completed during the third quarter of 2021.
Earlier this year, it also became known that Orkla buys into the Indian company Eastern Condiments Private Limited, also known as “Eastern”. The company mainly produces for the Indian market.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
–
