Triton acquires Geia Food from Credo Partners

Borsen reported that the company was being sold by the GP alongside Geia's founders Keld Gregersen, Lau Lejgaard and Jens Mortensen, who owned 30% of the company.

The paper also said, without citing any sources, that Geia could now be valued at around DKK 1bn (€134m).

The deal follows a sale process run by Danske Bank Corporate Finance for the GP. Per Frankling, investment advisory professional at Triton, said in a statement that the GP planned on expanding the company in the Nordic region organically and through M&A. 

Credo acquired a 55% stake in Geia in 2017. The GP said that the company had since doubled in size, and succeeded in developing into a particularly attractive platform for further growth in the Nordic countries.

According to Mergermarket, the company in 2019 had a turnover of around DKK 1.7bn (€228.5m), and EBITDA of DKK 58.2m (€7.8m). 

Company
Founded in 2014 as a result of a merger between Mortensen Food and A Frost, Geia supplies retail chains with private-label and established brands of fish, seafood, ice cream, duck, poultry, beverages, meat, venison, dairy, fruit and vegetables. Its customers include supermarket chains across Scandinavia and northern Europe.

The company has a turnover of NOK 2bn, and has 120 employees working from offices in Denmark, Sweden, Norway and Finland.

People
Credo Partners – Gudmund Killi (managing partner).
Geia Foods – Claus Ravnsbo (group CEO).
Triton – Per Frankling (investment adviser).

Advisers 
Vendor – Danske Bank (M&A). 

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• Topics
• Buyouts
• Nordics
• Consumer
• Denmark
• Triton Partners
• Secondary buyout
• Danske Bank