Nordic Capital has acquired a majority stake in Greenfood Group – a supplier of healthy fruits, vegetables, and salads through its Nordic Capital Fund VIII for an undisclosed amount. Greenfood is currently owned by the management team, senior executives, and the Swedish family-owned investment firm, Fidelio Capital. Upon closing of the deal, these owners will remain as minority owners, with Nordic Capital being the majority owner of the company.

 

"There is an obvious trend towards healthier eating, but also an increasing requirement for it to be easy and convenient. Greenfood is driving innovation and product development within convenient healthy foods in the Nordic region. In addition, the company has a very strong retail solution,” said Michael Haaning, Partner with NC Advisory, the advisor to Nordic Capital Funds in a Nordic release.

 

Headquartered in Helsingborg, Sweden, Greedfood is a leader in the healthy food segment in the Nordic region with sales totaling SEK 3.9 billion (US$459 million). A key contributor to the company’s success is its Picadeli salad bar concept.

 

“Picadeli, which offers both retailers and consumers the opportunity to buy healthy salads in a very easy and personalized [sic] way. Nordic Capital looks forward to working with the very experienced Greenfood management team, and to adding Nordic Capital's expertise developed from retail investments, concept development and growth," says Mr. Haaning.

 

Greenfood group was established in 2015 through the merging of the two companies, Picadeli and STC Greenfood, creating a company that is completely vertically integrated throughout all steps of the fruit and vegetable value chain from farm to consumer.

 

Picadeli was founded in 2010, and offers consumers an innovative “shop-in-shop” retail concept through which consumers can mix their own salads within grocery and convenience stores. Since its founding it has grown to more than 1,500 locations in Sweden, Finland, and Estonia. The group’s Fresh Cut unit delivers processed and pre-packaged fruits and vegetables to both wholesalers and retailers across Sweden, Finland, and Denmark, and its Sourcing business supplies fruit and vegetables sourced from global growers to markets across the Nordic region.