ORIOR raises its interest in Casualfood to 70%.

ORIOR, the internationally active Swiss food & beverage group, has increased its interest in Casualfood to 70 %, which further strengthens its broader strategic footprint by adding a new centre of competence specialised in small scale food islands in the fast-growing food service to-go market. Financial terms were not disclosed. ORIOR announced the multi-stage acquisition of Casualfood, beginning with an initial 35 % interest in the company. Having purchased an additional 35 % interest, ORIOR now owns a majority stake and Casualfood has been integrated into the ORIOR International segment as an independent centre of competence. Casualfood will therefore be fully consolidated as of September 2019. The purchase of this additional interest has been financed with internal funds and through existing lines of credit. ORIOR intends to acquire all remaining Casualfood shares in stages by 2022. “Casualfood is a great company. The fine sense for brand worlds and trends is remarkable. Their success is also based on an unconventional, agile and creative way how this team creates new brand worlds with concise stories and their proximity to consumers with a strong focus on small scale food islands.” Daniel Lutz, ORIOR Group CEO.