EQT backs buyout of Granngården

EQT has backed the management buyout of Swedish retail chain Granngården through its EQT Opportunity fund. The business was sold by Lantmännen, a 42,000-strong farmer’s collective.

Granngården sells household, garden, forestry and animal products at over 120 outlets in Sweden. It had sales of €254m in 2007.

“Together with the employees, EQT intends to continue to develop Granngården to become a unified and profitable retail chain with a clear and competitive product offering. To fully realize the potential in Granngården, both Lantmännen, an important supplier, and the Lantmännen members, an important customer group, will play crucial roles,” said Samir Kamal, partner at EQT Partners.

EQT Opportunity closed in January 2006 with commitments of €352m. This is the seventh investment made from the fund.