On Friday 31 March, NIC Enterprises Limited acquired a majority ownership of Orchard Valley Foods Limited.
Mike Forrester and Cherry Blumberg, currently Chairman and Managing Director of the company, will remain as shareholders, and also become board directors of NIC Enterprises Limited. Cherry will remain as Managing Director of Orchard Valley Foods Limited.
NIC are part of Orkla Food Ingredients within the Orkla group, head quartered in Oslo, Norway. The company currently own three other companies in the UK which are all involved in the supply of decorations, inclusions, wafers, cones and other consumables, mostly to the ice cream industry. There are a number of other NIC companies based in Europe, including Candeco in Sweden, with whom Orchard Valley Foods have worked with for 10 years.
So what does this mean for Orchard Valley Foods?
A key fact considered by the shareholders was the continuation of ‘business as usual’, without disruption to employment, as well as the continued growth of Orchard Valley Foods. Synergies between the group companies in both the UK and internationally are likely to bring new opportunities to Orchard Valley Foods at Tenbury and Leominster. Some of these have already been identified and work is underway to transfer business to Orchard Valley Foods. Leominster is likely to become the distribution point for the group into the Midlands, North England and Wales.
Orchard Valley Foods make up half of the sales of the combined NIC UK businesses and bring a new speciality to the group of working with food manufacturers.
Mike, Cherry and Richard Cooke will remain on the board of Orchard Valley Foods with Orkla appointees. Mike and Cherry will join the NIC Enterprises UK Board and Mike will also join the board of the Swedish sister company, Candeco, based in Malmoe.
More information about NIC Enterprises Limited can be found here: www.nicice.com