PRINT THIS PAGE EQT acquires Swedish retail chain Granngården09/07/2008. Source: AltAssets. 
Nordic private equity firm EQT Partners has acquired Swedish retail chain Granngården from farmer's collective Lantmännen. The investment was made from the firm's €352m EQT Opportunity fund, which closed in January 2006. Granngården has 106 stores and around 20 independent dealers in Sweden, employing around 1,000 people. The company also has an online e-commerce subsidiary called Nordpost. In 2007 Granngården recorded sales of SEK2.4bn (€254m).
Samir Kamal, partner, EQT, said, 'Together with the employees, EQT intends to continue to develop Granngården to become a unified and profitable retail chain with a clear and competitive product offering. To fully realise the potential in Granngården, both Lantmännen, an important supplier, and the Lantmännen members, an important customer group, will play crucial roles.'
The acquisition is the seventh by the EQT Opportunity Fund. In May of this year, the fund agreed to acquire a majority stake in German private label retail chain Strauss Innovation.
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