Orkla supports personal care portfolio with Riemann acquisition

Riemann’s products are sold in pharmacies under brands P20 and Perspirex. Through the acquisition, Orkla intends to enhance its position in this channel.

With 90% of its turnover achieved through exports to European markets, the company reported an annual turnover increase by 8% over the last few years. The deal is expected to complement Orkla Care’s existing position in the personal care sector in the Nordic region.

Orkla Care's chief executive officer (CEO) and executive vice-president Stig Ebert Nilssen said: “Riemann has an attractive position in the pharmacy channel and a presence in Orkla’s priority growth markets.

“The purchase of Riemann complements Orkla’s personal care product portfolio and gives us access to new growth platforms. The acquisition also offers potential for synergies with our present operations.”

Following the transaction, Riemann will be integrated into the Orkla Home & Personal Care unit.

Founded in 1979, Riemann reported a turnover of DKK133.5m ($20m) last year, while Orkla recorded NOK38bn ($4.5bn). Orkla supplies branded consumer goods and concept solutions to groceries, out-of-home markets, and bakeries. In addition to Orkla personal care unit, the firm also includes home care, house care, and wound care divisions, alongside grocery business Pierre Robert Group and Lilleborg cleaning segment.

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Image: P20 and Perspirex brands. Photo: courtesy of Orkla ASA.