Orkla ASA — M&A Activity 2026

May 18, 2026

OV UK acquires Phoenix Brands

OV UK acquires Phoenix Brands

Orchard Foods Valley Ltd ("OV UK"), a subsidiary of Orkla Food Ingredients

("OFI"), has signed and completed an agreement to acquire 100% of the shares

in Phoenix Brands Ltd ("Phoenix Brands"), a UK-based producer of biscuits and

baked inclusions.

With the acquisition, OV UK strengthens their position within the sweet

inclusions category and supports the further development of manufacturing

capabilities in the UK market.

Phoenix Brands represents a complementary addition to OV UK's activities,

providing manufacturing capabilities within biscuits and baked inclusions. The

company serves customers across bakery, dairy and confectionery applications

with its own production site.

"Phoenix Brands represents a strong strategic fit for OV UK. The company has

built a focused and scalable platform with long standing customer

relationships and a clear position within its niche. This acquisition

strengthens our capabilities within sweet inclusions and enhances the value

offering we bring to customers in the UK market," says Coen Louwerse, CEO of

OV UK.

"This acquisition is well aligned with our strategy of strengthening our

ingredients portfolio through targeted investments in attractive categories

with strong fundamentals. Phoenix Brands supports our ambition to build

leading, specialised positions in selected segments over time," says Tor

Osmundsen, CEO OFI Sweet Ingredients.

"Phoenix Brands has developed into a well run business with a strong market

position, built on product quality, technical expertise and close customer

collaboration. I am pleased that the company is becoming part of OV UK and

OFI, and I look forward to remaining involved in the business to support

continuity and its continued development," says Andy Richards, previous owner

and Managing Director of Phoenix Brands.

The parties have agreed to keep the purchase price confidential.

About Orkla Food Ingredients

Orkla Food Ingredients ("OFI") supplies ingredients to a broad range of

customers in the bakery, ice cream and plant-based markets, and has a leading

position in Europe and a platform for growth in the USA. Important sales

channels include industrial manufacturers that chiefly manufacture and supply

products to the grocery channel, the Out of Home channel, for example through

artisanal bakeries and ice cream kiosks, and direct sales to consumers. The

biggest product categories are bread and cake improvers and mixes, yeast,

marzipan, ice cream ingredients and margarine and butter blends.

About OV UK

OV UK is part of Orkla Food Ingredients and is a leading supplier of sweet

ingredients in the UK. The company offers a broad portfolio of products and

solutions, serving both industrial and artisanal customers, and focuses on

developing strong customer partnerships through category expertise, product

quality and reliable delivery.