Swedish retail group ICA AB has announced that it has agreed the sale of its ICA Meny subsidiary to Nordic Capital.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
ICA Meny, which supplies restaurants, the foodservice sector and convenience stores, operates in both Sweden and Norway.
ICA said that the sale would result in a capital gain for ICA AB of approximately SEK360m (US$49m). However, the deal remains subject to approval from the European Commission.
Nordic Capital said it was excited about the opportunity to acquire ICA Meny and to work with the management team to further develop and expand the business. As a stand-alone company, ICA Meny has the opportunity to further strengthen its market position in a fragmented industry and to achieve continued growth by improving its service offering, Nordic Capital partner, Peter Hansson, said.
ICA said the sell-off would allow it to focus on its core activities in retail.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
