UK - Kaupthing sees 67% IRR from Costcutter exit

Kaupthing has sold Costcutter to transport and shipping group Biddy Line recouping 2x its investment on its 18 month holding period. The exit represented an IRR of 67%. Costcutter's growth has been driven by new franchise agreements and strong sector growth. The business now has a turnover of ТЃ540m and EBITDA in excess of ТЃ14m.