THE EUROPEAN CANDY GROUP acquired by ORKLA

Orkla Snacks agreed on 31 July 2026 to acquire the entire share capital of The European Candy Group from funds managed by Bencis Capital Partners and the company's management shareholders. The transaction valued the Dutch confectionery manufacturer at an enterprise value of €207m on a cash- and debt-free basis, implying EV/revenue and EV/EBITDA multiples of 1.9x and 9.9x, respectively, based on expected 2026 revenue of €110m and EBITDA of €21m. Headquartered in Drachten, The European Candy Group operates four production facilities in the Netherlands and Germany, manufacturing private-label sweets, liquorice, sugar-free products and vegan confectionery for retailers across Europe. The acquisition was intended to provide Orkla Snacks with additional production capacity to support the growth of BUBS, particularly in the Nordic markets, and accelerate its expansion into other European countries. Orkla planned to maintain the group's existing operations while gradually increasing BUBS production to meet demand in export markets. The transaction was subject to regulatory approval and consultation with the works council under Dutch law. Following approval by the relevant competition authorities, the acquisition was completed and The European Candy Group was consolidated into Orkla's financial statements from 16 September 2026.