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Norway's Orkla completes Kotipizza acquisition

Orkla ASA on Jan. 17 said it completed its acquisition of Finnish pizza chain Kotipizza Group Oyj.

Orkla acquired Kotipizza with a tender offer that paid €23 per outstanding share for a total consideration of about €146.1 million. The Norwegian conglomerate purchased 762,597 Kotipizza shares or about 98.59% of the company.

The deal was announced in November as part of Orkla's strategy to invest in businesses "with faster growth than traditional grocery."

On Jan. 14, Orkla also acquired porridge rice brand Pama from PepsiCo Inc.