July 2019

Advisor to Orkla Foods Danmark on the sale of Glyngøre to Amanda Seafoods

ATRIUM acted as exclusive financial advisor to Orkla Foods Danmark on the sale of Glyngøre to Amanda Seafoods.

Glyngøre was founded in 1940 and is today one of the leading seafood brands in Denmark. The brand has a strong presence in the herring, mackerel and tuna categories, and enjoys the highest brand awareness among Danish consumers.

Glyngøre has been part of the Orkla Group since 1995.

The strategic decision to divest the Glyngøre activities is driven by a desire to reduce the complexity of the Orkla Foods Danmark product portfolio.

With the acquisition of Glyngøre, Amanda Seafoods will strengthen its position in the Danish seafood market. Following the acquisition, Amanda Seafoods will consist of three consumer brands: Amanda, Bornholms and Glyngøre. Combined, the three brands will represent 286 years of experience in the Danish seafood industry, each with its own unique value proposition.

Amanda Seafoods was founded in 1916 and has since 2017 been part of the Norwegian seafood group, Insula.

ATRIUM acted as exclusive financial advisor to Orkla Foods Danmark in relation to the transaction.

"From the start, we wanted to complete a swift and efficient process. ATRIUM has delivered a fine job and been agile throughout the process"

Carsten Hänel, CEO, Orkla Foods Danmark

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Transactiontype
Divestment
Year
2019
Trade Value
Not disclosed
Process
Structured auction
Industry
Food and Agriculture