EQT Public Value to acquire minority stake in BioGaia

The GP intends to acquire 1,625,000 B shares, the equivalent of an 8% stake, through a directed issue.

BioGaia in late October announced it was carrying out a directed issue of new class B shares corresponding to a value of up to SEK 1.1bn to Swedish and international institutional investors, adding that Cargill had also shown interest in the rights issue alongside EQT.

BioGaia has appointed Carnegie Investment Bank to act as sole global coordinator and bookrunner in connection with the issue.

BioGaia is listed in the mid-cap segment on Nasdaq Stockholm. It reported net sales of SEK 768m (€74m) and EBIT of SEK 243m (€23m) in 2019. 

Niklas Ringby, co-head of public value and partner at EQT, said in a statement that the GP had followed BioGaia for a long time and was impressed with the company's track record of probiotic innovation, growth and recent initiatives to digitalise its business. 

EQT Public Value invests in publicly listed mid-market companies in northern Europe, and pursues value creation through board representation and hands-on engagement, leveraging EQT's resources and platform. It has previously invested in Securitas, BHG Group, Storebrand, Adapteo and Afry. 

The planned investment is subject to the approval of an extraordinary general meeting to be held at the end of November. 

Company
Founded in Sweden in 1990, BioGaia is a manufacturer and retailer of probiotic food supplements. The company's products are sold in 100 countries. In 2019, it generated a turnover of SEK 768m, with EBIT of SEK 243m. It employs 143 staff.  

People
EQT Public Value – Niklas Ringby (co-head).

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