Caldic Completes Acquisition of Norfoods
It also enables Caldic to access a well established distribution network in the Nordic countries and strengthens its leading position as a distributor of food ingredients throughout Europe.
Sep 13 2010 --- Caldic, distributor and producer of chemicals with a focus on food ingredients, has completed the acquisition of Norfoods, a leading food distributor in the Nordic region. Caldic has branches all over Europe and Asia. The completion of this acquisition represents a significant step underlining its strategy to further expand both its geographical coverage and its food activities.
Norfoods Group is the leading distribution partner of food ingredients and raw materials in the Nordic food industry. Norfoods was established in 1923 and over the years has acquired a reputation for its product knowledge and application know-how. The company is headquartered in Malmö, southern Sweden, with wholly-owned subsidiaries in Sweden, Denmark, Norway and Finland as well as a representative office in China. Norfoods has 80 employees and produces a turnover of €85 million.
Caldic’s core business is the distribution of chemicals with a strong focus on the food sector. In 2009, over 25% of its activities were related to the food industry. With this acquisition, Caldic is reinforcing its geographical growth by creating critical mass in Scandinavia. It also enables Caldic to access a well established distribution network in the Nordic countries and strengthens its leading position as a distributor of food ingredients throughout Europe.
"In line with our strategy to further expand our activities in the food business, this is the perfect next step. We are happy with this acquisition; together we will be able to find the right solutions for our suppliers and customers as well as supply excellent logistic services. Furthermore, Norfoods provides services which reflect our distinctive character; we add value to our products", says Mr O.C. van Caldenborgh, chief executive officer of Caldic.
Mr A. Brantberg, chief executive officer of Norfoods is pleased with the acquisition by Caldic. "Caldic has a reputation for reliability and it is also a dynamic organisation. Since their strategy perfectly reflects our vision for the future, we are happy to become part of Caldic."
