CapMan completes Cardinal Foods exit

The transaction, which was announced on 3 April 2013, will contribute €1.4m from carried interest income to CapMan Group's current year financial result. The income is derived mainly from the CapMan Equity VII B fund, alongside €0.4m in returns from CapMan's own fund investment. The sale contributed €3.7m to CapMan Group's 2013 cash flow.

CapMan Equity VII B currently has three remaining companies in its portfolio, one of which has been partially exited.

Capman formed Cardinal Foods in 2005 through the acquisition of two independent poultry and egg production companies, Norsk Kylling AS and Arne Magnussen. The GP invested from its Capman Equity VII fund and also provided mezzanine funding from Capman Mezzanine IV, while a senior debt package was arranged by DnB Nor. Capman took a 67% stake in the business.

Cardinal Foods is a producer of poultry meat and eggs based in Oslo. It consists of subsidiaries Cardinal Foods Ski, Den Stolte Hane, Jærkylling and Vestfold Fugl.

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• Topics
• Nordics
• Exits
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• Norway
• CapMan
• CapVest Equity Partners