Ratos buys Plantasjen from Apax in NOK 2.9bn deal

Minus debt, the deal gives Plantasjen an equity value of NOK 1.2bn.

Ratos hopes for increased sales in current garden centres and plans new investments in smaller, more centrally located stores.

Previous funding
Apax acquired Plantasjen from EQT in 2006 in a deal valued at NOK 3-4.5bn. The GP planned to explore expansion possibilities outside the Nordic region, a plan that did not come to fruition.

EQT had backed the management buyout of Plantasjen in September 2001.

The company's first investor was Norvestor Equity, which bought a minority stake in 1998 for an undisclosed amount.

Company
Founded in 1986 and headquartered in Oslo, Plantasjen runs a chain of shops selling plants and gardening accessories, with a total of 124 stores in Norway, Sweden and Finland.

The company has 1,200 employees and generates sales of NOK 3.7bn, with EBITDA of NOK 370m.

People
Ratos – Lars Johansson (CEO).
Plantasjen – Jon Abrahamsson Ring (CEO).

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• Topics
• Buyouts
• Exits
• Nordics
• Consumer
• Norway
• Ratos Holding
• Apax Partners
• Secondary buyout