Orkla Snacks to Buy European Candy Group for $239M to Fuel Expansion of Bubs Vegan Gummies

Orkla Snacks, a Nordic CPG giant, has agreed to purchase the European Candy Group for $239M in order to enhance the production and reach of its popular Bubs brand of vegan gummies. The acquisition will help Orkla Snacks increase the production capacity of Bubs products, allowing for growth in Nordic markets as well as quicker expansion into other European countries.

Bubs, a sustainable Swedish candy brand that was acquired by Orkla Snacks in 2022, saw a surge in popularity, leading to a global shortage that took the company by surprise. To address this shortage and meet increasing demand, Orkla Snacks partnered with Texas-based Mount Franklin Foods and now plans to acquire the European Candy Group to further support the growth of Bubs in export markets with high demand. The acquisition reflects the ongoing consolidation trend in the plant-based food sector, with companies strategically positioning themselves for growth and expansion in the vegan snacking and confectionery market.