Orkla Confectionery & Snacks has agreed to acquire Swedish confectionery company Bubs Godis.

Founded in 1992, Bubs offers a wide range of sweets, with a strong position in the Nordic’s pick ‘n’ mix confectionery market. In addition, Bubs also sells products in bags under brands such as Skalle and Goody.

Ingvill Berg, CEO of Orkla, said that the acquisition is “well-aligned” with the company’s strategy to strengthen its presence in the Nordic markets. She added: “Bulk confectionery is a growing category, and even when it is sold as pick ‘n’ mix, consumers prefer well-known brands like Bubs”.

Patrick Axzell, CEO of Orkla, said: “Bubs is a robust company and a good brand that will complement the rest of our portfolio and give us a solid base for continued growth”.

Bubs will become a subsidiary of Orkla, with its current CEO, Niclas Arnelin, set to remain with the company.

Axzell added: “To continue this growth journey, we will build further on the company’s strategy while also exploiting the advantages of the company becoming part of Orkla. In distribution, among other things, we see opportunities to make good use of our becoming a bigger company.”

The transaction is expected to be completed during the first quarter of 2023.

Terms of the deal were not disclosed.