norwegian conglomerate orkla asa said monday that it has agreed to buy an 84 stake in us ice cream ingredients business denali ingredients in a deal that values the company at 200 million denali ingredients is headquartered in wisconsin and has 160 employees with manufacturing at two facilities it is expected to report total turnover of 99 million in the fiscal year that ended sept 30 the food ingredients sector is fragmented with significant potential for further consolidation and growth orkla chief executive nils k selte said based on these opportunities we will now initiate a process to seek a longterm partner for orkla food ingredients to accelerate growth and value creation mr selte said the seller is denali companies llc and along with denali ingredients chief executive neal glaeser they will invest in denali ingredients with a combined stake of around 16 in addition to the initial purchase price the deal includes a potential topup payment dependent on the company delivering strong growth over the coming years it said the transaction is subject to regulatory approval and is expected to be completed in the fourth quarter of 2022