Dellia Group ASA completes acquisition of Kirirom Food Production
Oslo, 18 September 2026:
Dellia Group ASA ("Dellia" or the "Company") refers to the stock exchange announcement published on 9 December 2025 regarding the acquisition of Kirirom Food Production (K.F.P.) Co., Ltd ("Kirirom" or the “Acquisition”), a large-scale dried mango producer based in Cambodia, and subsequent updates on the transaction.
THE ACQUISITION
Dellia announces that the acquisition of Kirirom has today been completed. All shares in the Singapore holding company owning Kirirom have been transferred from Ms. Dalis Chhorn (the “Seller”), who also serves on the Company's Board of Directors, to Dellia Group ASA.
The acquisition represents an important step in Dellia's development into a vertically integrated international branded snacking company. Kirirom will form a central part of Dellia's industrial and innovation platform, securing long-term production capacity for the Group.
Jan Storli Eriksen, CEO of Dellia Group ASA, comments:
“Completing the acquisition of Kirirom is an important milestone for Dellia. Kirirom is at the heart of our integrated and scalable business model, connecting the different parts of Dellia. A product developed at our Food Innovation Lab in Oslo can be sourced and industrialised with support from our Shanghai team, produced at Kirirom and launched through our commercial organisation across multiple markets. Kirirom gives us greater control over production and closer access to key agricultural raw materials. As Kirirom is integrated, we believe this will create a larger, more diversified and more profitable Dellia.”
ABOUT KIRIROM
Kirirom Food Production is a large-scale dried mango producer based in the Kirirom region, west of Phnom Penh, Cambodia. Founded in 2013, the company operates through a combination of direct farming, contract farming and purchases from cooperatives. Kirirom has annual dried mango production capacity of approximately 12,000 tonnes and supplies both Dellia and external customers in the US, Asia-Pacific and Australia. Kirirom is expected to generate approximately USD 50 million in revenue in 2026, with approximately half generated from Dellia and half from external customers.
As of August 2026, Kirirom employed approximately 4,225 people, of which approximately 1,225 are permanent employees and approximately 3,000 are temporary employees. Kirirom is committed to sustainable farming practices, utilising all parts of the mango productively. Mango skins and seeds are used for animal feed and biofuel, minimising waste across the production process. Employees at Kirirom receive training to strengthen skills and support long-term employment. As a socially responsible employer, the factory actively contributes to the local community by supporting multiple initiatives related to health, education, environment and infrastructure. In addition, Kirirom facilitates for women to work at the factory.
TRANSACTION TERMS AND SETTLEMENT
As announced on 9 December 2025, the Acquisition values Kirirom at an enterprise value of USD 36 million on a cash- and debt-free basis. At the time of announcement, the purchase price for the shares was estimated at approximately USD 26 million, based on net debt of approximately USD 10 million. The purchase consideration comprises USD 13 million in cash and 3,096,832 shares in Dellia Group ASA (such number of shares reflecting the share split completed in June 2026). The consideration shares will remain subject to a lock-up until 27 March 2027.
Delivery of the consideration shares will be settled through the transfer of 615,160 treasury shares held by Dellia and the issuance of 2,481,672 new shares in Dellia Group ASA, to be resolved by Dellia's board of directors under the board authorisation given on the annual shareholders' meeting on 9 June 2026. Following issuance of the new shares, the total number of issued shares in Dellia Group ASA will increase from 43,680,000 to 46,161,672 shares.
As part of the Acquisition, 10 hectares associated with the existing factory site have been transferred into a land trust structure. In addition, 39 hectares surrounding the factory have been acquired for USD 3.9 million from the Seller to facilitate potential future expansion. Following completion, the land trust structure comprises a total of 49 hectares.
Kirirom's existing debt facilities will remain outstanding following completion and continue as part of the Group's financing structure.
FINANCIAL REPORTING
Kirirom will be included in Dellia's consolidated statement of financial position in the Q3 2026 report. The Q3 report will include a preliminary purchase price allocation and provisional values for Kirirom's assets and liabilities. Kirirom's financial results, including revenue and earnings, will be consolidated in Dellia's income statement from 1 October 2026. Sales to customers outside Dellia Group will contribute to revenue and earnings already during Q4, while profit on sales to other Dellia entities will be recognised at Group level when the products are subsequently sold outside Dellia Group, with the contribution expected to build through Q1 2027.
For further information, please contact:
VP Investor Relations Thea Guldbrandsøy Tel: +47 45 22 68 82 E-mail: thea@dellia.com
About Dellia
Dellia is a branded consumer goods company within the “better-choice” snacking category. The Group develops and sells products under the brand Sunshine Delights, offering a range of premium dried fruit products targeting the mass market. Dellia also offers private label production of dietary food supplements. Its products are distributed in over 14,000 stores in the Nordics and selected European markets. https://www.dellia.com/en
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