Kinnevik to acquire 38% in MatHem for SEK900m.

Kinnevik committed to invest SEK900m in MatHem, Sweden's leading independent pure-play online grocery retailer, in a combination of SEK400m in primary capital and SEK500m in secondary shares taking Kinnevik's ownership to 38%. Georgi Ganev, CEO of Kinnevik, commented: "I am proud of our investment in MatHem, our third investment in the Nordic food sector. This is a sector with huge potential given its significant share of household spend, its non-cyclical nature and attractive purchase patterns in terms of frequency and basket size. MatHem has built a strong brand and recently launched an updated platform which places the company in a strong position to continue to capture market shares as the shift to online accelerates within the grocery sector."