Segulah II, L.P. has sold the Norfoods Group to the Group’s management team, led by CEO Anders Brantberg. Norfoods is today the leading supplier of food ingredients to the Nordic food industry and represents some 200 suppliers from Europe, North and South America and Asia. The largest company in the group is the subsidiary AB R Lundberg in Malm÷ Sweden. The Group also has subsidiaries in Norway, Denmark and Finland.
Segulah II and group management acquired Norfoods from listed group Hexagon in 2000. At that time Norfoods was a conglomerate in the food sector. Over the last four years the company has gone through substantial changes focusing operations on food ingredients, and complementing the product portfolio with a number of new ingredients and ready-made mixes.
“Norfoods has gone from being the leading ingredients supplier in Sweden to become the leader in the Nordic market. The sale process attracted a large amount of interest from industrial buyers, however it turned out that management was the best buyer” said Christian Sievert, Managing Partner at Segulah.
“We will continue with our strategy, defined at Segulah’s acquisition, to grow as a supplier of critical ingredients for the Nordic food industry,” commented Anders Brantberg CEO of Norfoods.
For more information please contact:
Christian Sievert, Managing Partner Segulah
+46 (0) 8 442 89 50, +46 (0) 708 66 96 94
Anders Brantberg, CEO Norfoods
+46 (0) 40 698 11 00, +46 (0) 708 80 20 40