Accent exits kitchenware retailer Cervera in sale to trade

The planned exit comes six years after Accent acquired a majority stake in the business via Accent Equity 2012 from listed company ICA Gruppen for SEK 160m (€15.75m).

The GP said that under its ownership the company had expanded its offering into new categories, strengthened its relationship with customers, improved its market presence and gained market shares over the past two years. It added that during the six-year holding period, the company's revenues increased by more than 70%, from SEK 700m in 2014 to SEK 1.25bn in 2020, and its EBITDA nearly tripled.

The new combined group will trade as Home Brands and include Kibord's existing brands Home Brands, Kitch'n and Tilbords. It will have a combined turnover of NOK 2.6bn (€244.6m). 

Company
Founded in 1987 and based in Täby near Stockholm, Cervera is a Swedish dining and kitchenware retailer. It sells its products online and through 70 physical shops across the country. 

People
Cervera – Peter Rimbäck (CEO).
Accent Equity Partners – Claes Bodell (partner).

Advisers
Vendor – GCA Altium (M&A); Mannheimer Swartling (legal).

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• Topics
• Exits
• Nordics
• Consumer
• Accent Equity Partners
• Sweden
• Norway
• Trade sale