Private equity business Nordic Capital has acquired Danish bakery and food service chain Lagkagehuset from FSN Capital, which is selling its majority share after eight years.
Lagkagehuset has stores throughout Denmark and a newly-established presence in London.
Nordic Capital said it sees potential in supporting the acceleration of Lagkagehuset’s growth in Denmark and abroad. The stores in the UK, trading under the Ole & Steen brand, are the first phase of a planned international roll out.
The bakery has 67 branches in Denmark and focuses on artisanal breads, cakes and pastries, as well as tea and coffee.
Nordic Capital partner Michael Haaning said: “Lagkagehuset has a great customer-oriented concept that delivers high quality products every day and is a preferred brand for consumers in Denmark.
“Nordic Capital will leverage its industry expertise within the retail sector to further develop the company internationally, supporting Lagkagehuset’s continued progress and expansion in partnership with the company’s strong management team.”
Lagkagehuset CEO Jesper Friis said: “We are excited to have found a strong partner in Nordic Capital, which has the experience, industry knowledge and capital to support us bringing Lagkagehuset to the rest of the world and we are looking forward to the new ownership.
“We have amazing employees and products and expect continued high growth in the coming years.”
The Lagkagehuset chain consists of traditional bakeries and smaller urban food-to-go outlets.
Nordic Capital aims to tap into the success of its modern retail concept in Denmark. The company has a total of 1,800 employees and reported a revenue of DKK 665 million ($101 million) last year.
The parties have agreed not to disclose the financial terms of the transaction.
© FoodBev Media Ltd 2020