Orkla to acquire a 68% stake in Eastern Condiments for $269m.

Orkla, a Norwegian consumer goods conglomerate, agreed to acquire a 68% stake in Eastern Condiments, which offers a mix of non-vegetarian and vegetarian food products such as blended and single spices, for $269m. "This announcement marks a significant step for Orkla towards delivering on its strategy to strengthen our footprint in our core geographies. By joining forces, Eastern and MTR will create a solid platform in the fast-growing Indian market, based on strong local brands. MTR has been a great success story for Orkla. Now we look forward to continuing the journey with the Meeran brothers as partners," Jaan Ivar Semlitsch, Orkla President and CEO.