In This Article:
Nordic group Orkla has sold its 49% stake in the functional chewing gum start-up Eace Gum based in Denmark.
Orkla first invested in Eace Gum in 2021 with a 30% interest and after raising the holding to 49% is disposing of the asset for an undisclosed sum. The move is part of the company’s “strategy to reduce complexity in its product portfolio”, a spokesperson for the business confirmed with Just Food.
Norway-headquartered Orkla is a diverse group, with operations and separate business units for food in Europe, confectionery and snacks, and ingredients.
It also operates divisions for pizza sold via foodservice outlets, a segment for its business in India, along with units for health and sports nutrition, home and personal care, among others.
Housed within Orkla Care in Denmark, Eace Gum was set up in 2019 by Asbjørn Dencker and Ziggi Harttung in Vallensbæk, a suburb of the capital Copenhagen.
The founders will remain with the business after the disposal, the Orkla spokesperson said, adding Eace Gum has been backed by new investors.
“We have made a strategic decision to simplify our product portfolio. The sale of our stake in Eace Gum is a natural step in that direction,” Tina Møller, the category and marketing director at Orkla Care Denmark, was quoted as saying by the local FødevareWatch publication in comments confirmed to Just Food.
Eace Gum produces a range of flavoured gums fortified with individual vitamins, such as energy boost, vitamin boost and immunity boost.
Energy boost contains caffeine and vitamins B6 and B12, while the vitamin boost product is fortified with ten vitamins, including C, D and B12. Immunity boost adds vitamin C and zinc.
CEO Dencker confirmed with Just Food that Eace Gum supplies all the major retail chains in Denmark. The company also exports to the rest of the Nordic region, as well as markets in the Middle East and Germany, he said, adding plans are in place to enter the UK.
The co-founder was reserved in supplying further details on the UK launch but said the business is “strengthening our efforts across European markets to accelerate growth and solidify our presence”.
Dencker declined to identify the new investor because the investment round is still open. However, he said Eace Gum has “secured a substantial capital injection”, adding that the business is in “discussions with strategic investors”.
The two co-founders will remain majority owners, Dencker said, but would also not reveal the financial terms of the Orkla stake sale.
"Orkla sells stake in functional chewing gum business Eace Gum" was originally created and published by Just Food, a GlobalData owned brand.