Linas Matkasse expands in Scandinavia, merges one of its subsisdiary with a Norwegian rival.
Linas Matkasse, a Stockholm, Sweden-based e-commerce food retailer, announced merging its subsidiary, Adams Matkasse, with the Norwegian Godtlevert.no.
The financial details of the transaction remain undisclosed. After closing it, Linas is doubling sales to NOK 700M ($81M) and number of customers in Norway to 60,000, strengthening thus its position in the Nordic market. The merger also means that Lina's Grocery is a hundred percent owner of the Norwegian companies even though they will act under their own brands.
Linas Matkasse was founded in 2008 by siblings Niklas Aronsson and Lina Gebäck. The company raised outside capital of about $60M, from backers such as Creandum, Acton Capital or Herkules.The founders Niklas Aronsson and Lina Gebäck are together the largest shareholder in the company.
The transaction is subject to the approval of the Norwegian Competition Authority.