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EQT exits remaining stake in Candyking

15 May 2014

CandykingNordic private equity firm EQT has exited its minority investment in Swedish confectionery retailer Candyking to existing investor Accent Equity Partners.

EQT provided a mezzanine loan to Candyking in 2008, which was repaid in full this year, and acquired a 15 per cent stake in the business.

The firm has now exited the remainder of its stake in Candyking.

EQT said, “During the years as a lender and minority owner, EQT Expansion Capital has seen Candyking grow and improve profitability.

“Several strategic initiatives have been launched to improve Candyking’s business model.

“This has been completed by focusing on operational efficiency and the establishment of a competitive cost profile that, in turn, has facilitated organic and acquisition-driven growth and extension of Candyking’s geographical reach into several European markets.”

Last November it was reported that Candyking planned to raise up to SEK830m ($126m) in its IPO on the Stockholm stock exchange. It later abandoned plans to go public.

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