On Wednesday, Orkla ASA, a Norwegian industrial investment firm that holds ownership of MTR Foods, announced the consolidation of its Indian operations into a single business entity called Orkla India. This move positions Orkla India as one of the twelve independent portfolio companies within the organization.
As part of this restructuring, three distinct business units have been established: MTR, Eastern, and International Business (IB).
According to the company, this step will bolster the overall business capabilities and foster a more concentrated growth strategy across the various business units.
In the midst of this restructuring, Sanjay Sharma from MTR will assume the role of CEO for Orkla India. In this capacity, Sharma will be in charge of supervising the three distinct business units, each with its own CEO reporting directly to him.
The company announced that it will expand its product range to include offerings from MTR and Eastern, while also strengthening its global presence through the recently formed IB unit.
MTR and Eastern will retain their distinct brand identities, while capitalizing on the shared synergies, scale, expertise, and cost advantages facilitated by this restructuring.
Atle Vidar Nagel Johansen, Chairman of Orkla India, said, “Our acquisition of Eastern has significantly scaled our business in India reaffirming our position in this market. The three business units will play a pivotal role in fortifying Orkla’s overall portfolio which believes in the strength of local brands and leadership within distinct markets.”
On this reorganization, Sharma said, “Each of our business units is at a different stage of evolution, and under one umbrella of Orkla India, we will have a deep dedicated focus to accelerate their growth.”
