Christeyns NV, a Belgium-based manufacturer hygiene, engineered, and construction chemicals, has acquired the professional laundry business of Lilleborg AS, a Norway-based company that manufactures detergents and cleaning products for personal hygiene, household use as well as for several industries such as Agriculture, Transport, etc., and a subsidiary of Orkla ASA, a listed Norway-based company that operates in branded consumer goods, aluminum solutions, renewable energy, materials, and financial investment sectors, for an undisclosed consideration.
The acquisition enables Christeyns to become a market leader in Europe enabling it to offer Scandinavian industrial laundries a combination of innovative products, an outstanding service and real hands-on support. The transaction allows Orkla to concentrate its management resources and capital on other areas better aligned with its strategy. Pursuant to the transaction, Christeyns will retain six employees of the laundry business. The transaction is expected to be completed in the autumn of 2017.
The acquired laundry business had reported turnover of NOK 37m (EUR 4.08m) in 2016. Concurrently, Christeyns has acquired the laundry business of Novadan ApS, a Denmark-based supplier of high quality cleaning and hygiene solutions, for an undisclosed consideration.
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Advised in the sale of
Lilleborg AS (laundry business)
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