EQT fully exits Candyking

As part of Accent's management buyout of Candyking in late-2007, EQT Expansion Capital I provided a mezzanine loan to support the deal, awarding EQT with a 15% holding in the company.

Following a refinancing of Candyking in January this year, the mezzanine investment was repaid in full.

In December last year, the planned IPO of Candyking was cancelled due to a profit warning. Initially, a listing planned for 12 December 2013 was postponed because of two factory fires and currency issues. However, the company decided to cancel the IPO completely.

Speaking to unquote" when the decision was made, Candyking CEO David von Laskowski said: "There was a lot of negative coverage and turbulence in the Swedish media following our press release on the Wednesday. The main owners, Accent and EQT, then decided to cancel the IPO, and I was involved in that decision too."

Company
Candyking was established in 1984 under the brand name Karamellkungen in Sweden. The company sells pick & mix confectionery though concessions in retail stores and other outlets. Candyking reported sales of SEK 1.75bn in 2012.

People
Jannik Kruse Petersen is partner of EQT and led the mezzanine investment in the 2007 Candyking deal.

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