Geia Food sells 55% of the company's shares to Norwegian Credo Partners.

Geia Food A/S, an Aalborg, Denmark-based food company, announced entering into an agreement with Credo Partners for selling approximately 55% of the company.

The transaction, which has the financial details undisclosed, also involves that the CEO Claus Ravnsbo expands its co-ownership of the business, while the current minority shareholders continue as co-owners.

Geia Food A/S was founded in 2014 as a merger of equals between the Danish companies A Frost, established in 1997, and Mortensen Food, 2003, forming one of Scandinavia’s leading food suppliers.

The company, which employs 63 people, has special expertise in categories such as ice cream, poultry, fish, beverages and convenience food and works both with its own brands, but also supplies its own brands such as Eventyr Ice.

In 2016, Geia Food registered a total consolidated revenue of DKK 1.1 billion ($170M), with a profit of DKK 32.3 million ($5M).