Orkla Foods Danmark has sold its seafood brand Glyngøre to Amanda Seafoods as part of its strategy to reduce portfolio complexity and concentrate on prioritised categories.

Established in 1940, Glyngøre’s product portfolio comprises processed seafood for the Danish grocery and foodservice sector. The brand reported net sales of kr43m last year ($6.5m).

Amanda Seafoods CEO Jesper Kold Sørensen said: “We look forward to including the well-established Danish brand Glyngøre in our portfolio. Glyngøre holds a strong position with Danish consumers, and we see good opportunities for further building the brand through innovation and product development.”

The deal aims to focus on categories that have better potential for growth.

Orkla Foods Danmark CEO Carsten Hänel said: “We are glad that a solid company like Amanda Seafoods has chosen to include Glyngøre in its portfolio and will continue to build on this long-established brand to the benefit of Danish consumers.

“This divestment is part of Orkla Foods Denmark’s strategy of concentrating resources on our priority growth areas.”

The companies have not disclosed the financial terms of the transaction.

Orkla Foods supplies consumer goods and concept solutions to out-of-home and bakery markets in the Nordics, Baltics and selected markets in Central Europe and India.

Founded in 1916, Amanda Seafoods is now part of the Nordic seafood group Insula.

In November 2017, Orkla Foods agreed to sell its K-Salat business to Danish company Stryhns, part of the Norwegian food group Agra AS, to focus on other brands.

Stryhns agreed to acquire the complete product portfolio of K-Salat, including salad spreads, mayonnaise, remoulade, dressings and potato salads in Denmark.

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