Dutch firm Sonneveld, which produces bread improvers, mixes and release agents, is to become part of Orkla Food Ingredients (OFI) in Norway.
Oslo-based firm Orkla, which offers a range of bakery ingredients, has acquired the shares in Sonneveld Group BV, based in Papendrecht, the Netherlands, including all its subsidiaries.
“There is a strong strategic fit between the two groups,” said Sonneveld in a statement released by firm.
OFI has a decentralized business model, therefore Sonneveld will continue to be known by that name. The existing management team and managing director will remain at the firm and will continue to deliver “innovations, stable quality and a high service level” said the firm.
Sonneveld Group MD Cees Hack, said the new ownership represents new opportunities, “in particular in the patisserie sector”, that will benefit both Sonneveld and its customers.
OFI has subsidiaries in 17 European countries and forms part of the Orkla Group - one of the largest listed companies in Norway with a turnover of €7 billion.
The takeover is due to approval of the Dutch Competition Authority.