Orkla buys Jordan

Orkla ASA (OSE: ORK) has entered into an agreement to acquire 100% of the shares Jordan Personal & Home Care AS and Jordan House Care AS from family owned Jordan AS. Jorban is a branded consumer goods company in oral hygiene, cleaning and painting tools segments probably best known for its Jordan tooth brushes. The companies had sales of 900 million NOK, EBITA of 90 million and EBITDA of 120 million NOK last year made possible by 620 employees.

The purchase price is 1.18 billion NOK on a cash and debt-free basis. Jordan is a market leader in toothbrushes, toothpicks and dental floss (with its subsidiary Peri-dent being among world leaders in this product category) as well as painting tools in the Nordic region. In Norway it also holds that position in dishwashing brushes and microfiber cloths. Its painting tools brands include Anza, Spekter and Hamilton. Orkla aims to further grow Jordan’s business.