FSN Capital acquires Validus

FSN will acquire 60% of Validus, while Norgesgruppen is retaining a 40% stake in the company.

Prior to the transaction, Terje Stykket owned 51% of the company and Norgesgruppen 49%.

FSN is aiming for a continued internationalisation of Validus.

Norgesgruppen is a retail and wholesale operations provider for consumer products. The chain has a 38.5% share of the retail sector in Norway.

Norgesgruppen also owns stakes in several other companies in Norway, Denmark and Sweden. The retail chain reported a turnover of NOK 62bn and an EBITDA of NOK 4bn in 2012. It has 1,700 retail outlets and 30,000 employees.

Company
Founded in 1960 and based in Lysaker, Validus runs retail trade, wholesale, import, duty-free goods trade and beauty care products businesses in Nordic countries. It owns and operates a chain of independent cosmetics and health food stores; wholesales cosmetics, personal care and well-being products.

The holding company includes Vita, a Norwegian retail chain for everyday cosmetics; Parfymelle, a cosmetics retail chain; wholesale business Validus Engros; nutrition business Alma Norge; as well as a 51% stake in listed nutrition provider Bringwell. Validus also owns 50% of Travel Retail Norway and 48% of VAMI.

People
Henrik Lisæth is a partner at FSN. Sverre R Kjær is the CFO of Norgesgruppen. Per Christian Voss is the CEO of Validus.

Advisers
Equity – Schjødt (Legal); Vinge (Legal); PwC (Corporate finance); Cardo Partners (Commercial due diligence).

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