• EQT Opportunity sells Granngården, one of the largest non-food retailers in Sweden, to Felleskjøpet, a leading Norwegian supplier to the agricultural sector and retail chain focused on garden-, house-, pets-, outdoor- and agriculture products
• During EQT Opportunity’s ownership, Granngården has developed into a modern, integrated and profitable retail chain
EQT Opportunity has sold GG Holding AB (”Granngården” or ”the Company”) to Felleskjøpet Agri SA (“Felleskjøpet”). Granngården operates a nationwide network of 108 stores and an online platform targeting both B2C- and B2B customers. The Company offers a comprehensive range of solid products centered around gardening, animals and nature. Granngården is headquartered in Malmö, Sweden, and has approximately 550 employees.
EQT Opportunity acquired Granngården in 2008 and has since the acquisition worked together with management to improve the Company’s operations. During the last couple of years, Granngården has completed a transformative journey and after significant investments in the store network, the IT-system and marketing, significant profitability and efficiency improvements have been achieved.
Albert Gustafsson, Director at EQT Partners and Investment Advisor to EQT Opportunity, comments: “We are proud of Granngården’s transformation into a modern, integrated and profitable retail chain. I am confident that Felleskjøpet is a good new owner of Granngården given their sector experience and the industrial fit”.
Per Sigvardsson, CEO of Granngården, comments: “During the last few years, Granngården has changed its strategic direction, which has resulted in a stronger customer focus and a more performance-oriented culture. Granngården has today a solid platform for further growth and I look forward to continue developing the Company under Felleskjøpet’s ownership”.
John Arne Ulvan, CEO of Felleskjøpet, comments: “In Granngården, we have found a solid platform for expansion into Sweden. The acquisition of Granngården marks an important strategic milestone for us and I am convinced that this industrially sound transaction will benefit both companies and their customers”.
Nordea, Roschier and EY have acted as advisors to EQT Opportunity.
Albert Gustafsson, Director at EQT Partners, Investment Advisor to EQT Opportunity, +46 8 506 553 28
Kerstin Danasten, EQT Press Officer, +46 8 506 553 34
EQT is a leading European private equity group with approximately EUR 30 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and circa 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For further information: www.eqtpartners.com
Felleskjøpet is a leading Norwegian supplier to the agricultural sector and operates a retail chain focused on garden, house, pets, outdoor and agriculture.
For further information: www.felleskjopet.no