SWEDEN - Accent Equity divests Nordic Bake-Off to Vaasan & Vaasan

Tine
17 February 2006

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Accent Equity has announced the sale of Nordic Bake-Off to Vaasan & Vaasan, the Finnish Group of bakery businesses owned by CapVest Equity Partners. The value of the deal has not been disclosed, but it is understood that Accent has generated a very good return on its investment.

Nordic Bake-Off is a Nordic market leader for the manufacture and distribution of bake-off products. It is active in Sweden, Denmark, Finland and Norway. The company with its head office in Stockholm, employs some 100 people and recorded sales of approximately EUR 35m last year. Founded in 1986, Nordic Bake-Off is a pioneer in the industry.

The company develops, manufactures and sells products and services to convenience stores, service outlets (petrol stations, after-hours supermarkets, etc.), bakeries, coffee shops, cafés and restaurants. The company is a leading distributor to all of these segments under its proprietary Bonjour trademark.

'Nordic Bake-Off has made important strides under our ownership. Its profitability has more than doubled, and it has restructured to become a highly focused leader in the Nordic bake-off market,' says Niklas Sloutski, senior partner at Accent. Accent acquired Nordic Bake-Off from CSM in 2005.