Rhône, a private equity firm, agreed to acquire a 40% stake in Orkla, a supplier of bakery and ice cream ingredients for $555m. “The partnership search for OFI attracted strong interest. I am proud that we are joining forces with a best-in-class organisation in Rhône. The Rhône team’s partnership commitment and strategic attributes clearly stood out. This is a landmark deal for Orkla that puts OFI in a position to continue its organic and structural growth journey. This transaction is an example of the flexibility and value creation ambition that we have sought to create with Orkla’s new operating model,” Nils K. Selte, Orkla President and CEO.