Livingstone acted as the exclusive financial advisor to the seller, Abdon Group. Through the transaction, Leipurin acquired 100% of the shares in Kobia. By acquiring Kobia, Leipurin expands its geographical footprint, entering the Swedish market and becoming a key producer and distributor in Sweden.
Founded in 1918, Kobia is a full-range producer and distributor within the pastry and bakery industry in Sweden with customers throughout the Nordics with its primary focus on the Swedish market. The company was prior to the transaction part of Abdon Group, a family-owned group of companies based in Helsingborg with a strong position as one of the leading cereal manufacturers in Sweden.
Leipurin has a similar, and equally long, history as Kobia, as both companies were founded by bakeries. Leipurin acts as a producer and distributor of pastry and bakery supplies in Finland, the company’s customers can be found throughout the Baltic sea region and through the transaction Leipurin will significantly strengthen its position in Sweden. Leipurin is a subsidiary of Aspo, a conglomerate specializing in demanding B2B solutions in Northern Europe.
“This project is an excellent fit to Aspo’s acquisition-driven growth strategy and will significantly increase Aspo Group’s net sales in the Western market,” says Rolf Jansson, CEO of Aspo Group.
The sale of Kobia to Leipurin marks another important milestone in Livingstone’s portfolio of food sector deals. “Kobia is a leading company within the pastry and bakery industry in Sweden, and a trusted partner to its customers. We are very happy to have been part of Abdon Group’s journey which now concludes with a successful deal. Leipurin is an ideal partner to Kobia. Together, they become a Nordic leader within the bakery ingredients market”, says Zakaria Marakbi, Associate Director at Livingstone.
Livingstone’s team has thereby completed another transaction in the food sector, following deals such as the sale of Loviseberg Presseri to SEB Private Equity, the minority sale of Self Omninutrition to Armada and the minority sale of Proviva to Danone.
Livingstone was exclusive financial advisor and Lindahl was legal advisor to Abdon Group during the sales process.