Accent Equity is selling Nordic Bake-Off to Vaasan & Vaasan, a Finnish Group of bakery businesses owned by CapVest Equity Partners less than a year since it acquired the business. Financial details of the transaction are not disclosed.
Accent acquired Nordic Bake-Off, then called BakeMark Sweden, from CSM in April 2005. Under Accent Equity Partners’ ownership profitability has more than doubled, and it has restructured to become a highly focused leader in the Nordic bakery market. Over the year, Nordic Bake-Off’s management also came to play a much more central role in the company, as shown by restructuring and rapid profitability gains. The acquisition of Gotlandsbrödet AB further strengthened Nordic Bake-Off’s position in the Nordic market.
Nordic Bake-Off is active in Sweden, Denmark, Finland and Norway. The company has its head office in Stockholm with around 100 employees and posted sales last year of approximately €35m. The company develops, manufactures and sells products and services to convenience stores, service outlets (petrol stations, after-hours supermarkets, etc.), bakeries, coffee shops, cafés and restaurants.