Good Food Group was acquired by Maj Invest
Good Food Group A/S, a Vejle, Denmark-based food producer, announced that it entered into an agreement to sell the company to the private equity group Maj Invest.
FInancial details were not disclosed.
Maj Invest Equity made the deal with the family behind Good Food Group A/S. As part of the agreement, the company’s food and packaging activities will be separated into two independent companies. Maj Invest Equity and one of its investors will hold all shares in both of them. The existing management teams will stay on with the respective companies after the transaction.
Good Food Group’s food business manufactures a wide range of food products, including marmalades, frozen fruit, nuts, non-dairy cream, sauces, dressing and honey as well as seeds and kernels – both under own brands (including Svansø and Skælskør) and as private-label products for the retail sector as well as for customers in the food service segment and in industry. The packaging business manufactures cartons, flexible packaging, labels and commercial printing for a diversified customer portfolio, primarily within food products, confectionery and beverages. The broad product portfolio of both companies was built through in-house innovation and business activities acquired over the years. Production takes place at a number of sites in Denmark, Poland, Sweden and Norway, and products are sold to more than 75 countries, of which the Scandinavian countries account for more than 60% of revenue.
In 2017, Good Food Group generated total revenue of approximately DKK 1.4 billion ($210M).