Orkla Foods Danmark has sold its Glyngøre brand of seafood products to Amanda Seafoods A/S, the company announced 2 July.
The transfer is effective as of 1 July. The sale price was not publicly disclosed in the announcement.
The Glyngøre brand is popular in Denmark and includes processed herring and tuna products sold in the Danish grocery and foodservice sectors. The brand had sales of DKK 43 million (USD 6.5 million, EUR 5.8 million) in 2018.
Orkla Foods, based in Oslo, Norway, is a supplier of branded consumer goods with annual sales in excess of NOK 41 billion (USD 4.8 billion, EUR 4.3 billion). Orkla operated Glyngøre through its Danish subsidiary. It divested itself of Glyngøre “to reduce portfolio complexity and concentrate on prioritized categories.”
Amanda Seafoods is a Danish subsidiary of Leknes, Norway-based Insula, owner of a number of seafood companies including Lofotprodukt AS (operator of the Lofoten and Madam Bergen brands), Sjøfrisk AS, Conchilia AS, Frøya Salmon AS, First Seafood, Nordic Group, Berggren, and Marenor Seafood, among others.
"We look forward to including the well-established Danish brand Glyngøre in our portfolio. Glyngøre holds a strong position with Danish consumers, and we see good opportunities for further building the brand through innovation and product development," Amanda Seafoods CEO Jesper Kold Sørensen said.
Orkla Foods Danmark said its sale of Glyngøre and its previous sale of the K-Salat brand were “in order to focus on categories with greater growth potential.”
"We are glad that a solid company like Amanda Seafoods has chosen to include Glyngøre in its portfolio and will continue to build on this long-established brand to the benefit of Danish consumers,” Orkla Foods Danmark CEO Carsten Hänel said. “This divestment is part of Orkla Foods Denmark's strategy of concentrating resources on our priority growth areas.”
