Almondy

Almondy is a leading Nordic bakery business focused on frozen cakes, with revenues of 323 m SEK in 2007. Since year 2000, Almondy has had an average revenue growth rate of 28% p.a. The seller in the transaction is the London-based private equity firm Smedvig Capital Ltd. and associated persons. Segulah Advisor AB's industrial advisors Peter Elving (former CEO of Kraft Foods Nordic) and Svante Nilsson (former CEO of ICA and Coop Nordic) will join the board as Chairman and member of the board respectively. The change of ownership will take place on the 4th of July and the transaction is subject to Norwegian Competition Authority approval.