Litorina acquires Bergfalk

Bergfalk's former main owners and management will remain as owners in the company, which focuses on distributing meat, fish and shellfish in Sweden and Finland.

The owners and management of Bergfalk reinvested 30-50% of the proceeds they received from the sale.

Litorina had been eyeing the fresh food sector for some time before the acquisition, with potential targets including restaurants and wholesalers, partner Lars Verneholt told unquote".

The restaurant sector in the Nordic region has been on the rise with a trend for eating out and an appetite for premium-quality food driving the market, he added.

With the fresh capital, Bergfalk intends to further strengthen its market position, both organically and through more acquisitions.

The deal is the second investment from the Litorina V fund after it acquired Swedish geographical information technology firm Digpro in November 2017.

Litorina V has a target size of SEK 3bn and a hard-cap of SEK 3.25bn. The GP held a first close on SEK 2.5bn at the end of 2017 and intends to hold a final close in Q1 2018. The fund's managers are in dialogue with other investors to raise the remaining capital for the fund, Verneholt said.

Company
Established in Stockholm in 1840, Bergfalk offers fresh food to restaurants and grocery retailers. It operates in Sweden and has established a presence in Finland.

The company employs a staff of 140 and posted a turnover of SEK 550m in 2017.

People
Litorina Capital Advisors – Lars Verneholt (partner).
Bergfalk – Lars Bengtsson (CEO, co-owner).

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• Buyouts
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