Orkla Food Ingredients has signed an agreement to acquire Swiss confectionery ingredients manufacturer Hans Kaspar for an undisclosed sum.

The deal is expected to further strengthen Orkla Food Ingredients’ position in the confectionery and ice cream ingredients segment.

Orkla president and CEO Jaan Ivar Semlitsch said: “Hans Kaspar offers high-quality, speciality ingredients based on natural raw materials, adapted to modern consumer trends.

“As a well-established company, with a long history, Hans Kaspar has customer relationships with several of Europe’s leading chocolate and ice cream manufacturers.”

Completion of the deal is expected during the third quarter of this year.

Upon completion of the deal, Hans Kaspar will be integrated into the Orkla Food Ingredients business area and become part of OV Group, joining other companies such as Candeco, Confection by Design, and Cake Décor.

Hans Kaspar’s senior executive team will continue its association with the company and jointly work with Orkla Food Ingredients to ensure the company’s growth.

Orkla executive vice-president and Orkla Food Ingredients CEO Johan Clarin said: “Hans Kaspar will expand OV Group’s geographical footprint and enable OV Group to grow its position in Europe in line with Orkla Food Ingredients’ strategy.

“At the same time, Hans Kaspar’s premium products will complement OV Group’s existing product portfolio.”

Hans Kaspar produces speciality ingredients for chocolate and ice cream manufacturers, as well as operates production facilities outside Zurich.

The company generates the majority of its revenues through international sales. Last year, it reported a business turnover of $14m (Sfr13.3m).

Earlier this year, Orkla agreed to acquire Icelandic chocolate and confectionery manufacturer Nói-Siríus HF.