Noi-Sirius: Orkla Completes Acquisition Of Confectionery Firm Ni-Sirus

Norwegian conglomerate Orkla has announced the completion of its acquisition of Nói-Siríus HF, which is one of the leading manufacturers of chocolate and confectionery in Iceland. The transaction has been approved by the relevant competition authorities, Orkla said in a statement, and was completed on 4 June. Nói-Siríus is being consolidated into Orkla's financial statements as of 1 June, it added. 'A Good Fit' "Nói Siríus holds a unique position in Iceland and is a good fit with Orkla's portfolio of leading brands," Orkla President and CEO Jaan Ivar Semlitsch commented last month. "We see a potential for creating value by continuing to build on Nói Siríus's strong brands in Iceland, while also expanding the product range. Chocolate, snacks and confectionery are core categories for Orkla and Iceland is a growth market - we intend to be part of that growth." Orkla held a minority shareholding in Nói-Siríus for a...