Owner of Cederroth First Aid acquires Norgesplaster
Orkla Wound Care has signed and completed an agreement to purchase 100% of the shares in Norgesplaster Holding AS (”Norgesplaster”).
The company holds good positions in the wound care and first aid equipment market, and with the acquisition of Norgesplaster Orkla Wound Care has strengthened its presence in the pharmacy channel and the market for first aid products. The product portfolio is mainly marketed under the Norgesplaster and Snøgg brands, and is primarily sold in the pharmacy channel, B2B, through distributors and as exports.
Orkla Wound Care already holds leading positions in wound care and first aid equipment in several European markets with strong brands such as Cederroth First Aid and Salvequick
“Norgesplaster represents strong brands in growing categories and has a well-run distribution platform in attractive sales channels. The acquisition of Norgesplaster fits our strategy in terms of strengthening Orkla’s position in wound care and first aid equipment, and will provide us with a stronger presence in the pharmacy channel and B2B,” says Maria Lundman-Hedberg, CEO of Orkla Wound Care.
”By having Orkla as our owner we will enhance our abilities to further develop the categories in which we operate today”, says Managing Director at Norgesplaster, Per Turnes. ”We believe this will benefit our customers and consumers in the years to come”.
Norgesplaster is the market leader in wound care in the pharmacy channel in Norway, in addition to being one of the world’s largest manufacturers of adhesive foil for the production of pressure sensitive ECG electrodes and grounding pads. Snøgg is a leading brand for first aid, emergency medical and medical consumables. Norway is the company’s largest single market, however approximately 60 per cent of the company’s sales revenues come from exports.
Norgesplaster is a family-owned business established in 1938. The company’s headquarters and production facilities are located in Vennesla, Vest-Agder. The business is headed by Per Turnes, and has 66 employees. In 2019, Norgesplaster had a turnover of NOK 170 million and EBITDA of NOK 17 million.
At this stage Norgesplaster and Orkla Wound Care will continue to run as today, and the acquisition will not have any practical implications for our customer relations or operations. If and when this should change, we will ensure a close dialogue prior to any amendments.