Leading Latvian dairy company Food Union has announced the purchase of Isbjorn Is, Norway’s third-largest ice cream producer. The new owners will be expanding Isbjorn’s current production plant in Follese in western Norway, an operation which should finish by the end of 2016. Additions to the product mix are also in the works.
Headquartered at Askoy outside of Bergen, the 50 year old Isbjorn Is sells to grocery chains as well as directly to consumers across Norway. The company’s revenue in 2014 reportedly amounted to roughly USD 19.8 million (NOK 165 million).
Food Union currently operates in Latvia, Estonia, Denmark, and Norway, and has extensive experience in ice cream production, with an offer that includes the brands Ekselence, POLS, NU, Rasa, and Lakto. This acquisition supports its strategic goal to reinforce its presence in the Nordic countries.