Denali Ingredients, LLC today announced its owners, the Blume family, have entered into a definitive agreement to sell a majority stake to Orkla Food Ingredients (OFI), a business area of the Norwegian publicly listed company Orkla ASA. OFI is a leading supplier of bakery and ice cream ingredients to the Nordic and Baltic markets as well as many other European countries.
For over a decade, Denali Ingredients has developed and manufactured ingredients primarily for ice cream and frozen desserts. Innovation has been at the core of its efforts, spearheaded by its expert food scientists and delivered through its high-quality product roster. Denali Ingredients’ innovative history is complementary to OFI’s strong position in the European market for ice cream and confectionery ingredients. By joining together, Denali Ingredients will add products and capabilities, enhancing its vision of becoming the “go-to” supplier for innovative ingredients.
“We are very pleased to become part of OFI, which is already a major player in Denali’s categories in Europe and has a deep understanding of our industry. I am convinced that together we will continue Denali’s journey of growth and value creation. As a team, we look forward to a fruitful partnership and cooperation,” says Neal Glaeser, President and CEO of Denali Ingredients.
This will be OFI’s first business venture in the United States and Denali Ingredients’ operations will continue out of the New Berlin facilities.
“With this acquisition, OFI is strengthening its position as a leading ingredients supplier to the bakery, ice cream and confectionery industries. We have a stated strategy of increasing our exposure to markets and categories with higher growth and margins. Denali Ingredients, with its leading position in the attractive US market, fits well in this picture. With the addition of Denali Ingredients to our group, OFI will increase the size of its Sweet Ingredients area by 45%,” says Johan Clarin, Orkla EVP and CEO of OFI.
The Blume family will retain an investment portion in the new company. Neal Glaeser will also be continuing as President and CEO.