Nordic rivals merge to form regional snack giant

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HELSINKI--Nordic snack foods rivals Chips and Orkla have joined forces to create one of Scandinavia's biggest snacks companies. The joint venture, Scandinavian Snack Co., is 60% owned by Finnish food group Chipswill and 40% by Norway's Orkla.

Scandinavian Snack will consist of KiMs Danmark, KiMs Norge and OLW Snacks in Sweden. The new company will have 550 employees and revenues of $120 million.

"The deal generates purchasing and product development synergies and reduces the need for new production investments. We want strong snack food brands, and strong product recognition," says Finn Jebsen, head of Orkla's branded consumer goods business.

KiMs is a clear market leader in Denmark and second largest company on the Norwegian market with the KiMs and Polly brands. OLW is second largest snacks company in Sweden and sells CheezDoodles in Norway.

Copyright October 2000, Crain Communications Inc.

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