Brief: Orkla to buy Health and Sports Nutrition Group for SEK 360 mln
21/11/2017 06:36
Nov 21 (Reuters) - Orkla Asa ORK.OL
* Orkla has entered into an agreement to purchase the
Swedish
company Health and Sports Nutrition Group (HSNG) from Stockholm
listed Qliro Group QLRO.ST
* Orkla says the parties have agreed on a purchase price of
SEK
360 million ($42.43 million) on a debt-free basis
* HSNG's operations will be maintained as a separate unit in
the
Orkla Care business area.
* HSNG runs the ecommerce portals Gymgrossisten and
Bodystore, and
is the biggest online health and sport nutrition company in the
Nordic region
* The transaction is conditional on the approval of the
competition authorities in Sweden, Norway and Austria
* "Orkla's goal is to strengthen its focus on digital
marketing
and sales, and through this acquisition will gain proximity to a
large number of engaged consumers. Health is a priority area for
us, and we see good opportunities for collaboration with our
existing activities, in the form of greater distribution through
traditional sales channels and, not least, enhanced consumer
insight," says Stig Ebert Nilssen, Orkla EVP and CEO of Orkla
Care
Source text for Eikon: [http://www.orkla.com/Press/News/Orkla-invests-in-digital-commerce
]
Further company coverage: ORK.OL
($1 = 8.4841 Swedish crowns)
(Reporting By Joachim Dagenborg)
((joachim.dagenborg@thomsonreuters.com;))