Geia Food’s market position in Scandinavia further strengthened with new majority shareholder
After nearly a four-year ownership, Credo Partners is passing the baton to Triton which will take a majority shareholding in Geia Food. As part of the transaction, the current day-to-day management and certain key employees will also take ownership interests in the company.
“We’re extremely pleased to welcome a strong and highly reputable partner such as Triton to our group of owners. Having Triton on our team will enhance our ability to develop our business both organically and through value-creating acquisitions in Scandinavia. Combined with the strong commitment of our day-to-day management and many key employees in all our markets, this new ownership structure will give Geia Food an incredibly strong platform from which to continue its journey of growth over the past many years. I would also like to extend my sincere thanks to Credo Partners for a very positive and constructive collaboration,” says Geia Food Group CEO, Claus Ravnsbo.
“We’re investing in a fantastic company that has achieved its position as industry leader through innovative power, a strong network and responsible conduct. Geia Food operates in a stable Nordic market, and its customer partnership model combines with new customer needs and strategies to create excellent underlying growth. We look forward to working with the company’s highly skilled employees and management to support the continued growth, both organically and through acquisitions,” says Per Frankling, Investment Advisory Professional with Triton.
“Geia Food has been a very satisfactory investment for Credo Partners, and we see the company as a highly attractive platform for further growth in the Nordic markets. The company’s management has demonstrated strong leadership and the ability to be innovative in various food categories. That gives Geia Food the potential to build a clear leading position within its industry. I will also say that we’re very pleased that we’ve been able to apply our core expertise in scaling businesses with an unmet strategic potential,” says Gudmund Killi, Managing Partner of Credo Partners.
Scandinavian platform to boost growth
“Under Credo’s ownership, we evolved from a Danish company with offices in Norway and Sweden into a truly Scandinavian business with a strong focus on developing the markets in which we operate. We plan to enhance our platform in the years ahead by building even closer relationships with our customers and suppliers. In order to remain a relevant partner in the market, we must consistently develop our business and create value for our long-standing business partners by being agile and innovative. Our new partnership with Triton will fully support us in these efforts,” Ravnsbo continues.
Partnerships are the way forward
Geia Food’s entire group management team will be staying on as co-owners of the company, along with a large number of other key employees in Denmark, Norway and Sweden.
“Offering the chance of co-ownership, not only to our highly skilled key employees but also to the stars of tomorrow, is a huge source of strength for us as an employer. Being able to attract and retain the best expert profiles in the industry is crucial for us to meet our ambitions for growth,” Ravnsbo concludes.
The transaction is subject to the final approval of the relevant competition authorities.
Danske Bank Corporate Finance acted as financial advisers to Credo Partners.
Please direct any questions regarding this press release to:
Claus Ravnsbo, Group CEO, Geia Food, tel. +45 29 99 18 21
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