Felleskjøpet, the leading Norwegian agricultural and gardening products retailer has acquired Granngården from private equity investor EQT. The acquisition is an importatnt strategic step in line with Felleskjøpet’s increased focus on the Swedish market.
Felleskjøpet Agri AS has acquired the retail group Granngården AB from EQT in a deal which will see Granngården continue to operate under its existing brand in Sweden under the leadership of current CEO Per Sigvardsson.
Felleskjøpet, with 2,500 employees and a turnover of NOK 13.4 billion, is a leading Norwegian supplier to the agriculture sector. The group has a nationwide retail chain with more than 100 stores across the country and an established online presence offering products in gardening, housing, pets and outdoor and farming, to both commercial farmers and consumers.
Swedish Granngården has an estate of 108 stores, and online presence, and a highly complimentary product offering across farming, gardening, pets and outdoor. The company is headquartered in Malmö with 550 employees and a reported turnover for 2015 of SEK 1.7 billion.
John Arne Ulvan, Group CEO at Felleskjøpet commented: “The acquisition of Granngården strengthens Felleskjøpet’s position in the Nordic Retail sector with access to a total of 14 million customers. It will increase our competitiveness in both purchasing and supply chain, whilst at the same time facilitating cost efficient development of new customer concepts. In a competitive market, our goal is to strengthen our position in both Norway and Sweden, and grow our customer base.”
Kenneth Westlund, Partner at Livingstone, added: “We’re pleased to be part of Felleskjøpet’s Nordic growth strategy. This transaction shows what great opportunities there are for creating value in the Nordic Retail sector. Felleskjøpet and Granngården share a century long tradition and business culture, and we’re convinced that together, the synergies which can be achieved post-transaction, will continue to support Felleskjøpet’s future growth strategy.”