Felleskjøpet, leading Norwegian supplier to the agriculture sector and retailer focused on gardening, pets, outdoor and farming, acquires Granngården from EQT. The acquisition is a strategic step in line with Felleskjøpet’s increased focus on the Swedish market.
Norwegian Felleskjøpet Agri SA acquires the retail chain Granngården AB from the EQT Opportunity fund. Granngården will continue to operate under the Granngården brand in Sweden and Per Sigvardsson will continue in his present role as CEO of Granngården.
Felleskjøpet, with 2,500 employees and a turnover of NOK 13.4 billion, is a leading Norwegian supplier to the agriculture sector. The company has a nation-wide retail chain with more than 100 Norwegian stores and e-commerce, offering products in gardening, housing, pets, outdoor and agriculture to both farmers and private consumers.
Granngården has a nation-wide store network comprising 108 stores and e-commerce aimed at both private consumers and companies. The company has an extensive product offering in farming, gardening, pets and outdoor. Granngården is headquartered in Malmö and has some 550 employees. Turnover for 2015 amounted to SEK 1.7 billion.
“The acquisition of Granngården strengthens Felleskjøpet’s position in Nordic retail with access to a total of 14 million customers. We increase our competitiveness in both purchasing and supply chain, while at the same time facilitating cost efficient development of new customer concepts. In a competitive market, the goal is to strengthen our position in both Norway and Sweden, which will gain Granngården’s customers,” says John Arne Ulvan, Group CEO at Felleskjøpet.
“We’re pleased to be part of Felleskjøpet’s Nordic strategy. This deal shows what great opportunity there is for creating large values in the Nordic retail sector. Felleskjøpet and Granngården share a century long tradition and business culture, and we’re convinced that they will reach joint success,” says Kenneth Westlund, Partner at Livingstone.