The shares in Oy Panda Ab owned by MB Funds and Panda’s management will be transferred to Felix Abba Oy Ab, which is part of the Orkla Group of Norway. MB Funds has owned Panda since 2000, in which time Panda has increased its market share and substantially improved the profitability of its operations. Under its new owner, a food company.
Panda can continue to hone its operations and seek growth in the international market
Panda has claimed a solid position in the Finnish confectionery market, especially in licorice products. In addition, the company’s exports have gained pace in recent years. At present, about 30 per cent of its products are exported.
“We have been highly satisfied with how Panda’s business operations are shaping up. The company’s result has improved significantly and it has outperformed all its objectives. At present, Panda is in a new stage as a company. We believe that its strong new Nordic owner will provide it with more business development resources and potential”, says Hannu Puhakka, Partner, MB Funds.
“We have focused on the company’s strengths and come up with new concepts for the confectionery market. The input of all our employees has played a decisive role in honing our operations. The deal that’s now been made ensures a robust foundation for the further development of our operations”, says Risto Jämsén, Managing Director of Panda Oy.
Panda’s full-year turnover in 2004 amounted to about €52 million and it has approximately 300 employees.
The parties to the deal have agreed that the transaction price will not be made public. The transaction must be cleared by the competition authorities before its consummation.
For additional information, contact:
Partner, MB Funds
+358 9 1310 1352 / +358 50 511 3917