CapVest buys Findus

EQT has signed an agreement with FoodVest, a holding company controlled by private equity firm CapVest Equity Partners, to sell Findus AB. EQT acquired Findus from Nestle in January 2000 and since then has substantially restructured the business.

Findus develops, produces and markets a range of branded frozen food products, focused on the ready meals, seafood, and vegetables segments. The company has its primary activities in the Nordic region and France, with a growing market position in Eastern Europe. Findus operates six factories in Sweden, Norway, France and Thailand and employs about 1,900 full time employees. In 2005 net sales amounted to approximately €450m.

Per Harkjær, president and CEO of Findus, said: “During the last 18 months we have focused the business on the Nordic area and France, divesting our subsidiaries in Australia, Germany, Spain and the UK. The repositioning of Findus leaves it ready for growth.”