Greenfood majority stake changes hands

Swedish investment firm Fidelio has made a significant move in the fresh-produce industry by acquiring Nordic Capital’s majority stake in Greenfood. This transaction, which was announced on July 28th, marks a new chapter for the company as Fidelio takes over the reins from Nordic Capital.

Fidelio, which has been a minority shareholder in Greenfood for almost 15 years, has now become the majority owner of the company. The financial terms of the deal have not been disclosed, but it is clear that Fidelio’s investment will support Greenfood’s accelerated international expansion.

Greenfood, a renowned provider of healthy, affordable, and sustainable food, operates in both Europe and the US. The company’s offerings include fresh fruits and vegetables, ready-made meals, and salad-bar business through its divisions: Fresh Produce, Picadeli, and Food Solutions.

Under Nordic Capital’s ownership since 2016, Greenfood has experienced significant growth, nearly doubling its revenues to Skr5.6bn ($580.3m). With the acquisition by Fidelio, Greenfood is poised to continue its upward trajectory and drive innovation in the industry.

David von Laskowski, CEO of Greenfood Group & Picadeli, expressed confidence in the company’s future with Fidelio at the helm. He stated, “As we turn this exciting page together with Fidelio, we are confident in our ability to further accelerate growth, foster innovation, and strengthen our positive impact.”

The deal is expected to be finalized in the second half of the year, pending regulatory approvals and other standard closing conditions. This acquisition comes on the heels of Greenfood’s formation in 2015 through the merger of Picadeli and STC Greenfood, followed by Nordic Capital’s acquisition in 2016 and the purchase of Apetit’s fresh-cut produce business in 2019.

With operations in multiple countries including Sweden, Finland, Denmark, Norway, Estonia, Germany, Belgium, Luxembourg, France, and the US, Greenfood has established itself as a key player in the industry. The company’s sourcing operations in Spain further enhance its global presence and supply chain capabilities.

In conclusion, Fidelio’s acquisition of Nordic Capital’s majority stake in Greenfood marks a significant milestone for the company’s growth and expansion. With a focus on sustainability, innovation, and international reach, Greenfood is well-positioned to continue its success under Fidelio’s ownership.

Please note that the information provided in this article is for general informational purposes only and should not be considered as professional advice. It is recommended to seek professional guidance before making any decisions based on the content provided.