EQT will relinquish its stake in fresh bakery products distributor Vaasan & Vaasan in a secondary buyout transaction. CapVest is acquiring the business for an undisclosed sum. The transaction is subject to approval from the competition authorities.
EQT Scandinavia II acquired the business in 1998. Following the acquisition the business expanded internationally achieving growth through acquisitions in Lithuania and Sweden. Sales have increased from €220m in 1998 to almost €280m in 2003.
Vaasan & Vaasan is a distributor of fresh bread and bakery products in Finland and the Baltic states. The company’s product portfolio comprises some of the most recognised consumer brands in Finland and the Baltics such as Vaasan, Leibur, Hanzas Maiznica Vilaniaus Duona and Finn Crisp.
Andreas Tallberg and Christian Sinding, partners at EQT, said: “During EQT’s ownership the Vaasan & Vaasan management team has been highly successful in growing the company and building Vaasan & Vaasan into the leading bakery player in both Finland and the Baltic states.”