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Orkla India announces reorganisation with three business units: MTR, Eastern & international business
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Thursday, 12 October, 2023, 12 : 00 PM [IST]
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Our Bureau, Bengaluru
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Earlier this year, Orkla ASA, the Norwegian industrial investment company, transformed itself into a leading industrial investment company with twelve autonomous portfolio companies. The company, announces the reorganisation of its Indian operations under one business entity - Orkla India, which is now one of the portfolio companies.
The latest being that it is being reorganised by creating three business units: MTR, Eastern, and International Business (IB). This marks its 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 reorganisation, Sanjay Sharma, CEO of MTR will lead Orkla in India as Orkla India, CEO. He will be responsible for overseeing the operations of the three business units with each having its own independent CEO, reporting to Sharma. It will now have a wider product portfolio, featuring products from MTR and Eastern and a robust international presence through the newly established IB unit.
Sunay Basin, who is currently the chief commercial officer at MTR Foods, will now become CEO, MTR Foods. Eastern Condiments will continue to be headed by Navas Meeran, who also belongs to the promoter family. For the international business - Ashwin Subramanian will be new CEO.
Both MTR and Eastern will maintain their independent brand identities while benefiting from the mutual synergies, scale, expertise, and cost advantage that this reorganisation 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, Orkla India, said, "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.”
Sharma said, "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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