Herkules sells Estrella to Intersnack

Intersnack was attracted to the group because of its presence in the Nordic and Baltic regions.

Previous funding
Estrella was owned by Herkules Private Equity Fund II, which bought the company in October 2008 through a carve-out from Kraft Foods. With the support of Herkules, the company has established itself as a standalone group through the recruitment of a new management team.

Company
Estrella first made crisps in 1936. Today, it produces a range of snacks including crisps, baked snacks and nuts. It operates manufacturing facilities in Disenå (Norway), Angered (Sweden) and Kaunas (Lithuania) with headquarters in Oslo.

In 2013, Estrella reported turnover of €130m. The company employs 430 people.

People
Maarten Leerdam is executive chairman of Intersnack. Sverre Flåskjer, partner at Herkules, led the deal. Björn Pedersen is CEO of Estrella Maarud.

Advisers
Vendor – ABG Sundal Collier (Corporate finance); Wiersholm (Legal); PwC (Financial due diligence).
Equity – Wikborg Rein (Legal); EY (Financial due diligence).

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• Topics
• Exits
• Nordics
• Herkules Capital