One of Hungary's biggest sandwich makers, Khell-Food is to be acquired by Orkla Foods of Norway. If the Hungarian authorities agree, the deal could be completed in the first quarter of 2023.
Orkla Foods Europe will acquire all the shares of Hungarian sandwich maker Khell-Food, ESM Magazine reports. Khell-Food was founded in 1992 and sells sandwiches under this brand throughout Hungary.
The share purchase agreement is expected to become effective in the first quarter of 2023, subject to the approval of the Hungarian authorities.
There will be no change at the helm of Khell-Food, which will continue to be led by Zoltán Kelényi, the current owner-CEO. The company has done well in recent years, with revenue growth of 11% between 2017 and 2021. Orkla is expanding at a rapid pace: it recently acquired 74% of the shares in the Polish pizza chain Da Grasso, the Hungarian state news agency MTI reports.
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