FDBusiness.com

CapVest and Lantmannen to Create the Nordic’s Premier Poultry Producer

 Breaking News

CapVest and Lantmannen to Create the Nordic’s Premier Poultry Producer

CapVest and Lantmannen to Create the Nordic’s Premier Poultry Producer
April 04
11:08 2013

Private equity firm CapVest and Lantmannen, one of the largest groups in agriculture, machinery, energy and food in the Nordic region, have partnered to form the Nordic´s leading poultry producer, with a turnover of more than SEK5 billion (Eur595 million). The new company will be created through the simultaneous acquisition of Kronfagel Group in Sweden and Denmark from Lantmannen, and Cardinal Foods in Norway from CapMan, which is one of the leading private equity firms in the Nordic countries and Russia. The new ownership structure positions the combined business for further development in international markets, as well as opportunities for product development and innovation.

The new company will consist of Kronfagel, SweHatch and Skanefagel in Sweden; Danpo in Denmark and Cardinal Foods in Norway. It will be led by a team of highly experienced executives drawn from both Kronfagel Group and Cardinal Foods, and is intended to be headed by Leif Bergvall Hansen as group chief executive.

CapVest will be the controlling shareholder (52%) and Lantmannen will hold a significant minority stake (48%). The terms of the transaction are undisclosed. Completion is subject to Danish, Swedish and Norwegian Competition Authority approval. Further information on the group’s name and structure will be announced in the coming weeks.

Kate Briant, partner at CapVest and incoming chairman, comments: “Food is one of our core investment sectors. It is fundamentally non-discretionary while offering strong potential for consolidation and growth. This transaction combines market leading businesses with an exceptional management team, creating a platform from which to grow and expand both locally and further afield.”

Per Olof Nyman, chief executive and group president of Lantmannen.

Per Olof Nyman, chief executive and group president of Lantmannen, comments: “This is a positive deal for everyone involved, creating a platform for a strong, collected focus on the poultry industry in all of Scandinavia. This transaction will benefit customers and consumers through increased resources for product development. Through this transaction, Lantmannen is realising the value created during our time as owner of Kronfagel Group. Partnering with CapVest to form the Nordic leader in the industry, we will also continue to participate in future value growth.”

Scandinavia has long been a core geographical focus for CapVest, through current and past investments such as RenoNorden, the leading provider of household waste collection services to municipalities in Scandinavia, Findus, the leading frozen food manufacturer, and Vaasan, a pan-Nordic bakery business. CapVest’s current portfolio includes investments in staple consumer products, acute healthcare and essential services industries across Europe.

Owned by 33,500 Swedish farmers, Lantmannen employs more than 10,000 employees, is represented in 22 countries, and has a turnover of SEK36.5 billion.


Warning: count(): Parameter must be an array or an object that implements Countable in /home/fdbusiness/public_html/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5
Share

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

[eventlist]

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements