Through its wholly-owned Swedish subsidiary Health and Sports Nutrition Group AB (HSNG), Orkla Care has topped up its 16.7% minority share of Proteinfabrikken purchased back in 2014.
“HSNG holds a strong position in Sweden, while Proteinfabrikken has a strong presence in Norway,” says Johan Görgård, CEO of HSNG.
“Together, the companies will be a good fit, both in terms of their product portfolios and by giving us a solid base in Scandinavia.”
Sports nutrition product stable
Founded in 2001, Proteinfabrikken specialises in a range of sports nutrition products that includes protein powders, bars, Pre-Workout (PWO) nutrition, branched-chain amino acid (BCAA)-based products, dietary supplements, Ready to Drink (RTD) and food additives.
In 2019, the brand recorded a turnover of €7.9m (NOK 82m) with the majority of sales concentrated in Norway. Approximately half of the firm’s sales were made via its online store.
Meanwhile Orkla, which has not disclosed the purchase price, registered a total turnover of €70m (SEK 732m) in 2019 buoyed on by acquisitions such as that of Dutch ingredients company Vamo by Orkla Food Ingredients.
At the end of 2020, Orkla Care Poland entered into an agreement to sell the company’s skin care business in Poland in order to ‘streamline the portfolio and concentrate Orkla’s Polish operations on the health, wound care, cleaning product and personal care product categories.’