ICA Gruppen to sell InkClub for SEK 322 million

Solna, Sweden, 2016-Jun-21 — /EPR Retail News/ — ICA announced March 17 that a review of the ownership of InkClub would be initiated. Thereafter began a sale process that has now been completed. The buyer is InkClub’s founder, Lennart Nyberg. The purchase price is SEK 322 million for the shares in the company, which after transaction costs will entail an estimated capital loss for ICA Gruppen of SEK 30 million. The sale is expected to be completed during the month of June.

“Since the business has limited synergies with our core business, after conducting a review of our ownership we have decided to sell InkClub,” comments Liv Forhaug, Chief Strategy Officer, ICA Gruppen. “Our plan for the portfolio companies and the streamlining of ICA Gruppen’s holdings has thereby been fully carried out.”

InkClub is one of Sweden’s oldest e-commerce companies and has been owned by ICA Gruppen since 2007. Today the company conducts business in 10 countries and has a wide offering of consumables. In 2015 InkClub had sales of approximately SEK 500 million and an operating profit of SEK 17.5 million.

ABG Sundal Collier has served as financial adviser, and the law firm Lindahl has served as legal adviser to ICA Gruppen in connection with the transaction.

For more information
ICA Gruppen press service, Tel.: +46 10 422 52 52

ICA Gruppen discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.30 CET on Monday 20, June 2016.

Source: ICA Gruppen