Nordic Capital backs Greenfood Group

Greenfood was jointly owned by management, senior executives and Swedish family office Fidelio Capital, all of which will remain as minority shareholders following Nordic Capital's acquisition.

Nordic Capital said it hoped to tap into a trend of increased focus on healthy eating and convenient healthy foods with the acquisition, which it plans to grow further in the Nordic countries and internationally.

For Fidelio, the partial exit comes nearly four years after the family office acquired Greenfood's predecessor, Salladsbaren, which was later renamed Picadeli. The group was then established earlier this year, with the merger of Picadeli and STC Greenfood.

The GP's acquisition was made through the Nordic Capital VIII fund.

Company
Founded in 2010, Greenfood operates in-store salad bars, provides pre-packaged fruit and vegetables, and also sources fruit and vegetables.

Helsingborg-headquartered Greenfood had revenues of SEK 3.9bn last year and employs a staff of around 700.

People
Nordic Capital partner Michael Haaning led the deal for the GP. Lars Åström is the CEO of Greenfood.

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• Topics
• Buyouts
• Nordics
• Consumer
• Nordic Capital
• Sweden