Dragsbæk has divested its Icelandic entities, Kjarnavörur and Gædabakstur, to Ölgerðin Egill Skallagrímsson hf, enabling a strategic focus on its core business while ensuring continued growth for the acquired companies.

Overview of the Target Companies

Dragsbæk, a subsidiary of Orkla Food Ingredients (OFI), has successfully completed the divestment of its Icelandic entities, Kjarnavörur ehf. and Gædabakstur ehf. Kjarnavörur is a prominent producer of margarine and oils, while Gædabakstur operates as an industrial bakery in Iceland. In 2024, Kjarnavörur generated revenues of ISK 3,683 million (approximately NOK 291 million), and Gædabakstur achieved revenues of ISK 3,364 million (approximately NOK 266 million). Both companies were co-owned by Dragsbæk along with minority shareholders.

With their impressive performance throughout the years, Dragsbæk's management believes that both companies are poised for continued growth in the capable hands of Ölgerðin Egill Skallagrímsson hf, the new owner. Dragsbæk aims to refocus on its core business operations in Denmark and explore growth opportunities in North and Central Europe following the divestment.

Industry Overview in Iceland

The food industry in Iceland is marked by a robust growth trajectory, propelled by an increasing demand for high-quality food products. The country's unique geographic position and acces