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Accent Equity Partners plans to float retailer Candyking

13 Sep 2013

stockholm5_sqPrivate equity-backed Swedish confectionery retailer Candyking is reportedly looking to float on the Stockholm Stock Exchange this year.

Accent Equity Partners has hired Carnegie and Nordea as financial advisors on the IPO, said Reuters, citing two people familiar with the matter. The company is also backed by private equity firm EQT, which holds a 15 per cent interest.

The IPO is expected to value the business at more than SEK2bn ($307m) on a debt-free basis, said the sources.

While the IPO is expected before the end of the year, it might take until early 2014, said one of the people.

Candyking posted an EBITDA of SEK140m on revenyes of SEK1.75bn last year.

In July Accent acquired Norwegian façade panel company Steni, alongside the company’s management team.

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