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BRIEF-Orkla to buy Health and Sports Nutrition Group for SEK 360 mln
November 21, 2017 / 6:51 AM / a month ago

BRIEF-Orkla to buy Health and Sports Nutrition Group for SEK 360 mln

Nov 21 (Reuters) - Orkla Asa

* Orkla has entered into an agreement to purchase the Swedish company Health and Sports Nutrition Group (HSNG) from Stockholm listed Qliro Group

* 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: [here ] Further company coverage: ($1 = 8.4841 Swedish crowns) (Reporting By Joachim Dagenborg)

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