Announced
Financials
Sources
Tags
online retail
Pending
E-commerce
Food Retailers and Wholesalers
Acquisition
Friendly
Venture Capital
grocery
Private
Minority
Private Equity
Sweden
Single Bidder
Synopsis
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."
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