11th October 2023 | Bengaluru, India – Earlier this year, Orkla ASA the Norwegian industrial investment company, transformed itself into a leading industrial investment company with twelve autonomous portfolio companies. Orkla ASA, announces the reorganization of its Indian operations under one business entity - Orkla India, which is now one of the portfolio companies.
Orkla India is being reorganized by creating three business units: MTR, Eastern, and International Business (IB). This marks Orkla's presence as a distinct entity in the country, bringing together the rich heritage and expertise of two iconic brands, MTR, and Eastern. This move will enhance the collective business capabilities and drive sharper growth focus across Business Units.
As a part of this reorganization, Sanjay Sharma, CEO of MTR will lead Orkla in India as Orkla India, CEO. Mr. Sharma will be responsible for overseeing the operations of the three business units with each having its own independent CEO, reporting to Mr. Sharma. Orkla India will now have a wider product portfolio, featuring products from MTR and Eastern and a robust international presence through the newly established IB unit. Both MTR and Eastern will maintain their independent brand identities while benefiting from the mutual synergies, scale, expertise, and cost advantage that this reorganization brings along. This realignment will enable the business units to share experiences, leverage strengths, and enhance their position with leading brands in their respective segments and geographies.
Atle Vidar Nagel Johansen, Chairman of Orkla India, expressed, "Our acquisition of Eastern has significantly scaled our business in India reaffirming our position in this market. Sanjay Sharma will spearhead Orkla India, and we look forward to continued success in the market with this realignment. 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.”
Sanjay Sharma, CEO of Orkla India, expressed, "We believe, in India food is local. It is intrinsically tied to our culture, language, and customs, rooted deeply in our local heritage. We are a collection of such heritage brands that are considered to be the custodians of culture and regional food on their soil. 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.”
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