Triton Fund III acquires Suomen Lähikauppa from funds managed by IK Investment Partners, Tradeka and Wihuri
- Triton Fund III acquires 100% of Suomen Lähikauppa from funds managed by IK Investment Partners and other shareholders
- Triton is committed to support substantial investments in the business, providing a solid financial platform to continue the initiated turnaround plan and take advantage of growth opportunities
- Opportunities to leverage on the strong brand names Siwa and Valintatalo and overall good store locations
- Neighbourhood store segment is supported by customer preference trending towards higher importance of proximity and ease of shopping
- Strong and committed management team in place with proven track record of turning the business around, also facilitating a seamless transition of ownership
20 December 2012
'The involvement of a new owner is a real acknowledgement of Suomen Lähikauppa. With the new owner, we will be able to further strengthen the role of the neighbourhood store segment and offer an even stronger alternative to consumers in the concentrated Finnish daily goods market. Most importantly, the Finnish consumers will benefit from increased competition,' said Ralf Holmlund, CEO of Suomen Lähikauppa.
'Suomen Lähikauppa is the home of brands that have become household names in Finland. By providing a solid financial platform, Suomen Lähikauppa will be in a good position to build on the successful turnaround accomplished in the last two years plan and take advantage of growth opportunities. We look forward to working together with the strong and committed management team in Suomen Lähikauppa in building a stronger company,' said Peder Prahl, Director of the General Partner of Triton Fund III.
Suomen Lähikauppa is led by a strong management team with Ralf Holmlund as the CEO since 2010. He previously worked at ExxonMobil, most recently as head of Esso's service station business in Germany, Austria and Switzerland. With the necessary investments in Suomen Lähikauppa's business operations, Triton Fund III is confident that it will be able to support Suomen Lähikauppa in its ambition to grow and create value.