Nordic group Orkla has divested its 49% stake in the Danish functional chewing gum start-up, Eace Gum.
Orkla made an initial investment in Eace Gum in 2021, acquiring 30% interest. Subsequently, it increased its holding to 49%. Now, it is disposing of this asset for an undisclosed sum. This decision aligns with the company’s “strategy to reduce complexity in its product portfolio,” as confirmed by a spokesperson.
Based in Norway, Orkla operates diverse business units in Europe focusing on food, confectionery, snacks, and ingredients.
The company also runs divisions for pizzas in foodservice and has ventures in India, along with segments dedicated to health and sports nutrition, home care, and personal care.
Eace Gum, established in 2019 by Asbjørn Dencker and Ziggi Harttung in Vallensbæk (a suburb of Copenhagen), operates within Orkla Care in Denmark.
The founders will continue to lead the business following the sale. Additionally, they have secured backing from new investors. As Tina Møller, the category and marketing director at Orkla Care Denmark, stated, “We have made a strategic decision to simplify our product portfolio. The sale of our stake in Eace Gum is a natural step in that direction,” as reported by the local FødevareWatch publication.
Eace Gum specializes in a diverse range of flavored gums, each fortified with vitamins. Their offerings include energy boost, vitamin boost, and immunity boost.
The energy boost gum features caffeine along with vitamins B6 and B12. In contrast, the vitamin boost variant contains ten essential vitamins, including C, D, and B12. The immunity boost gum is enhanced with vitamin C and zinc.
CEO Dencker confirmed that Eace Gum distributes its products to all major retail chains in Denmark. Furthermore, the company exports to the rest of the Nordic region, as well as selected markets in the Middle East and Germany. Plans are underway to expand into the UK market.
While Dencker did not disclose specific details regarding the UK launch, he mentioned, “We are strengthening our efforts across European markets to accelerate growth and solidify our presence.”
Although the CEO declined to reveal the identity of the new investor due to an ongoing investment round, he emphasized that Eace Gum has “secured a substantial capital injection.” Furthermore, discussions with strategic investors are actively in progress.
Dencker stated that the co-founders will remain majority owners, but the financial terms of Orkla’s stake sale were not disclosed.
