Nordhaven advised Kverva-backed Insula in the acquisition of Apetit’s seafood division

30 june 2017

Nordhaven advised Norwegian-rooted Insula AS in its strategic acquisition of the seafood division of Apetit Plc, the Helsinki-listed Finnish food company. The acquired business is a major manufacturer of salmon and rainbow trout fish products in Finland and a high-quality fish and shellfish product producer in Norway and in Sweden. In 2016, the acquired division had a turnover of 88 million euros. Insula’s pro forma turnover is approximately €700 million and it is part of Kverva AS – a well-capitalised and internationally active industrial investment company focusing solely on investing and developing companies within the marine sector.

The transaction provides Insula with an entry into the Finnish seafood markets and strengthens its existing seafood operations in Sweden and Norway. Insula considers Finland an attractive new geographical market with high seafood consumption and it plans to grow further in Finland both organically and through acquisitions.

“From a strategy perspective, this pan-Nordic acquisition giving us a solid position in Finland as a new market was highly important for us. The support and value-add we received from Nordhaven throughout this complex transaction was very substantial. We look forward to working with Nordhaven also in our follow-up acquisitions“ says Thomas Jessen, Investment Director at Kverva.

“We are delighted about having helped Insula and Kverva in this exciting deal with various international dimensions and a high strategic priority. The deal also allowed us to further deepen our expertise in the seafood sector. We believe consolidation in the sector will continue strong” comments Timo Lappalainen, Senior Partner at Nordhaven Finland.

 

For further information:
Timo Lappalainen, +358 40 5032 139, timo.lappalainen@nordhaven.com
Kimmo Voutilainen, +358 50 377 9900, kimmo.voutilainen@nordhaven.com

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