IK buys Meyers and Løgismose for DKK 800m

The founding families and management are reported to be retaining a 30% stake in the business.

The deal will see the two family companies merge before IK becomes the new majority shareholder through its €1.7bn IK VII Fund.

IK told unquote" the transaction was an ordinary equity structure with no shareholder loans, and low leverage through external bank debt.

Though the GP declined to comment on the size of the deal, it revealed the deal was sourced through exclusive talks with Meyers and Løgismose.

Dansk Vækstcapital, an LP in IK's funds, will also invest directly in the newco, alongside the GP and existing shareholders.

IK said it sees good opportunities to grow both brands in Denmark, as well as prospects in the food service segment through Meyers Canteens. The GP said it considered international expansion a concrete possibility for the future.

The current CEO of Meyers, Steen Halbye, will be appointed as CEO of the new group, and will invest in the company alongside existing management at both Meyers and Løgismose.

Meyers and Løgismose had been considering a merger before IK's acquisition, as the founder of Meyers, Claus Meyer, and the Grønlykke family that founded Løgismose have had a long-standing friendship.

The two companies had jointly operated chocolate producer Chokolade Compagniet before the merger.

Company
Løgismose is a producer of dairy products and foods for retail sale, and imports of wine and delicacy foods.

In addition to its food business, it also owns and operates the Kong Hans Kælder and Falsled Kro restaurants, the former of which was the first Danish establishment to receive a Michelin Star.

The company was founded in 1965 when the Grønlykke family bought the Løgismose Estate, and currently employs 160 people, managing profits of nearly DKK 18m last year.

Meyers was founded by Danish celebrity chef Claus Meyer, who is a co-founder and owner of Noma, a two-Michelin-Star restaurant in Copenhagen.

The group also owns a number of restaurants, operates a number of catering and canteen services, produces and sells its own gourmet foodstuffs, and provides consulting, education, research, team building and communication centred around the food and restaurant industry.

Meyers had profits of around DKK 22m last year, and employs 600 staff.

People
Thomas Klitbo is a director with IK. Claus Meyer is the founder of Meyers, while Jacob and Mikael Grønlykke own Løgismose. Steen Aalund Olsen is the CEO of Løgismose.

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• Nordics
• Buyouts
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• IK Investment Partners
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