MTR Foods has been renamed as Orkla India

MTR Foods, which owns the food, spices and curry powder brands MTR and Eastern, has been renamed as Orkla India said its owner, Orkla ASA, a Norwegian industrial investment firm that has a deep presence in the food vertical across the globe.
Orkla also announced the restructuring of MTR’s operations into three business units: MTR, Eastern, and International Business (IB). Each of these units will have its own independent CEO reporting to Mr. Sanjay Sharma, CEO, MTR, who has now been appointed as the CEO, Orkla India.
Orkla India would now have a wider portfolio featuring products from MTR and Eastern, as well as an increased exports focus. However, both the brands would maintain their independent identities while benefiting from the synergies, scale, expertise, and cost advantages that this reorganisation brings, said the company.
Atle Vidar Nagel Johansen, Chairman of Orkla India said, ‘‘Our acquisition of Eastern has significantly scaled our business in India reaffirming our position in this market. The newly formed 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.”
The realignment is expected to enable these three business units to share experiences, leverage strengths, and enhance their position with leading brands in their respective segments and geographies, according to Mr. Sharma.
Mr. Sharma added, “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. Under one umbrella of Orkla India, we will have a deep dedicated focus to accelerate our growth.”
Source: Thehindu