Accent buys Cervera from ICA

The deal was made through Accent's SEK 3.8bn Accent Equity 2012 vehicle, and ICA is expecting a SEK 15m profit from the sale of its 91.4% stake in Cervera. Minority shareholders divested their holdings alongside the majority shareholder.

ICA is no stranger to private equity, having sold electronics accessories retailer Kjell & Co to FSN Capital last year as part of the same strategy of divesting non-food assets that motivated the sale of Cervera. Additionally, the supermarket group acquired Altor's pharmacy group Apotek Hjärtat in December 2014.

Company
Founded in Täby near Stockholm in 1987, Cervera is a Swedish dining and kitchenware retailer with 70 shops.

ICA acquired a 91.4% majority stake in the company in 2006. Cervera reported revenues of SEK 745m in 2014, and employs 150 people.

People
Niklas Sloutski is the CEO of Accent Equity Partners.

Advisors
Vendor – Handelsbanken Capital Markets (Corporate finance).

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• Topics
• Nordics
• Buyouts
• Consumer
• Sweden
• Accent Equity Partners
• Handelsbanken