The Baltic Times

Kalev sold to Norwegian investors

  • 2010-05-05
  • Oskars Magone

TALLINN -- Kalev, Estonia's largest homegrown confectionary company, has announced that it will be bought out by Norway's Okla group.

Orkla will take over 100% of the shares in Kalev Chocolate Factory (KCF), including the factory in Jüri. KCF has annual net sales of approximately 28 million euros and close to 400 employees, Baltic Business News reported.

The deal is subject to the approval of the competition authorities in both countries.

 

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