M&A Deal Summary

Cloetta Acquires Candyking International AB

On February 17, 2017, Cloetta acquired food company Candyking International AB from EQT and Accent Equity for 325M SEK

Acquisition Highlights
  • This is Cloetta’s 2nd transaction in the Food sector.
  • This is Cloetta’s largest (disclosed) transaction.
  • This is Cloetta’s 1st transaction in Sweden.

M&A Deal Summary
Date 2017-02-17
Target Candyking International AB
Sector Food
Buyer(s) Cloetta
Sellers(s) EQT
Accent Equity
Deal Type Add-on Acquisition
Deal Value 325M SEK

Target

Candyking International AB

Solna, Sweden
website
Candyking International AB is a provider of an integrated pick-and-mix full service concept for confectionery, natural snacks and premium chocolates to grocery retailers, cinemas, service stations and other outlets.

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Buyer(S) 1

Buyer

Cloetta

Solna, Sweden

website

Category Company
Founded 1862
Sector Consumer Products
Employees2,600
Revenue 5.7B SEK (2020)
DESCRIPTION

Cloetta is a Sweden-based company that is mainly involved in the development, production and marketing of chocolate and sugar confectionery for selected markets under its own brand names. The key brands are Kexchoklad, Center, Plopp, Polly, Tarragona, Guldnougat, Bridge, Juleskum, Sportlunch, and Extra Starka. Cloetta AB has two production units in Sweden, in Alingsas and in Ljungsbro. Cloetta was founded in 1862 and is based in Solna, Sweden.

DEAL STATS #
Overall 3 of 3
Sector (Food) 2 of 2
Type (Add-on Acquisition) 2 of 2
Country (Sweden) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-17 Locawo B.V.

Roosendaal, Netherlands

Locawo B.V. (Lonka) is produces and sells fudge, nougat and chocolate products.

Buy kr295M

Seller(S) 2

SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 50.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 89 of 175
Sector (Food) 5 of 6
Type (Add-on Acquisition) 40 of 69
Country (Sweden) 26 of 33
Year (2017) 1 of 13
Size (of disclosed) 41 of 41
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-27 Adamo

Barcelona, Spain

Adamo is a provider of high-speed internet services over an own fiber-based access network. Adamo’s network covers over 100,000 households. Adamo was founded in 2004 and is based in Barcelona, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-20 Segra

Charlotte, North Carolina, United States

Segra is a provider of mission-critical connectivity solutions over a fiber-based network. Representing a successful combination of Lumos Networks and Spirit Communications. Segra provides Ethernet, MPLS, dark fiber, advanced data center services, IP and managed services, voice and cloud solutions, all backed by its industry-leading service and reliability. Segra is headquartered in Charlotte, North Carolina.

Buy $950M
SELLER

Accent Equity

Stockholm, Sweden

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Accent Equity Partners is a middle-market private equity firm that targets buyout and expansion capital investments in Scandinavia. Accent Equity is sector agnostic and generally prefers acquiring controlling positions. Accent Equity was formed in 1994 and is based in Stockholm.

DEAL STATS #
Overall 22 of 38
Sector (Food) 2 of 2
Type (Add-on Acquisition) 9 of 19
Country (Sweden) 17 of 31
Year (2017) 1 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-16 Stål & Hyr AB

Varberg, Sweden

Stål & Hyr AB is a rental provider of machinery and other equipment mainly to the construction industry. The Company offers a broad assortment of products and services, e.g. tools, small and medium sized construction equipment, lifts, electricity and energy equipment, scaffolding and weather protection, and construction site huts. Including Stål & Hyr’s and its sister company Dennis Maskinuthyrning’s depots, the Group provides its broad offering through a total of thirteen depots along the Swedish west coast and in northwestern Skåne.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-17 Akademibokhandeln AB

Stockholm, Sweden

Akademibokhandeln AB is a book retailer in Sweden with a market share of about 35% of consumer book sold, and it has a strong offering for all product and delivery formats. With 108 stores nationwide, 80 under its own management and 28 run as franchises, together with online sales under the Akademibokhandeln and Bokus brands, the company operates modern and profitable sales channels focused on consumers, companies and public-sector operations.

Sell -
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