Accent sets sight on Candyking IPO

The IPO is expected to take place in Stockholm by the end of the year. It would value the firm upwards of SEK 2bn, reports say. Carnegie and Nordea are understood to be financial advisers on the transaction.

Accent acquired the pick & mix maker in 2008 in a management buyout from Fazer Group for around SEk 1bn. Fazer disposed of the asset to focus on its core activities.

EQT also invested in the business to acquire a 16% stake, with the management retaining 10% of the firm's shares. The asset was sold through a competitive auction process run by Finnish investment bank Aventum.

The deal was supported by a senior debt package from Nordea. EQT Expansion Capital I supplied mezzanine financing.

Candyking, which goes under the name Karamellkungen in Sweden, was founded in 1984. The company is present in Sweden, Finland, Norway and the UK, as well as Poland, Slovakia, Czech Republic and Hungary. Candyking retails in more than 12,000 locations and sells around 45 million kilograms of candy per year.

The firm generates 52% of its sales in Sweden, 12% in Norway, 12% in Denmark, 11% in the UK, 11% in Finland and the remaining 2% in other markets.

Jan Ohlsson, Jan Samuelson, Niklas Sloutski and Jerker Sundström led the 2008 buyout for Accent. Ohlsson and Samuelson sit on the Candyking board of directors.

Accent and EQT could not be reached for comment. 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Consumer
• Sweden
• EQT