Axellus, Orkla Brands, is taking over Denomega from Borregaard, thereby strengthening its investment in marine oils.
Under the takeover agreement, Denomega Pure Health, will become a separate division of Axellus. The changes will take effect in February 2012.
“In the process of restructuring Borregaard to enable a possible sale or IPO, it has earlier been announced that Denomega would not be included in the sale/IPO. We have now found a solution with Axellus which means that Denomega has become part of an environment and group that already has omega-3 oils and supplements. We believe that this is a good solution for Denomega providing a foundation for future growth for both parties,” says CEO of Borregaard, Per A. Sørlie.
“This acquisition will strengthen our Norwegian supply chain. By consolidating omega-3 expertise, we will generate exciting opportunities for innovation, both within our own omega-3 brands and for our international customers,” says Stig Ebert Nilssen, Axellus CEO.
Axellus possesses solid expertise in consumer insight and the production, marketing and sale of dietary supplements to the international consumer market. This will contribute to greater value for Denomega’s customers.
The Axellus Group is the Nordic region’s leading supplier and marketer of a broad range of dietary supplements and health products. The Nordic countries, the Baltics, the Czech Republic and Poland are the company’s home markets, but Axellus is also widely represented in many European countries. The company’s best known brands are Möller’s, Gerimax, Pikasol, Nutrilett and Maxim. Axellus’ products are primarily sold through grocery retailers, health food stores and pharmacies. In 2010, the company had total sales of NOK 1,209 million and 419 employees. Axellus is part of Orkla Brands.
Denomega is a leading international supplier of odour and taste-free omega-3 oils manufactured from sustainable Norwegian and North Atlantic marine raw materials. The company primarily serves customers in the dietary supplement, nutrition and health segments.