Triton to acquire Geia Food
Stockholm (Sweden) / Aalborg (Denmark), 27 April 2021 - The Smaller Mid-Cap Fund II (“TSM II”) advised by Triton ("Triton") has signed an agreement to acquire a majority stake of Geia Food A/S (“Geia Food”), a leading food concept provider in Scandinavia. Triton will invest alongside current management and key employees. The transaction is subject to regulatory approval. Terms and conditions are not disclosed.
“We want to support the management and employees of Geia Food by investing in and supporting the continued growth and development of the company. We look forward to working together with the management team to strengthen the company’s position among its customers and across regions”, said Peder Prahl, Director of the General Partner for the Triton funds.
Founded in 2014 by the merger of two separate Danish food import companies, Geia Food is the leading food concept provider in the Scandinavian market operating across Denmark, Norway, Sweden and Finland. The company connects a base of approximately 250 suppliers from across the globe with Nordic grocery retailers and convenience stores.
“Geia Food is the second investment of the Triton Smaller Mid-Cap II Fund and its first in Denmark and the Nordics. We are investing in a fantastic company, with a leading position in its industry gained through innovation, strong networks and responsibility. Geia Food is active on a stable Nordic market and their model of cooperation with Nordic retailers and their clients demand for new concepts contribute to strong underlying growth”, says Per Frankling, Investment Advisory Professional and member of the TSM II Investment Advisory committee.
“We are very happy to have a strong and well recognized partner as Triton as an owner, which will give us further opportunities to develop the business both organically and through value-adding acquisitions in Scandinavia. In combination with a strong commitment from existing management as well as many key employees across all our markets, this creates a very good platform for continuous expansion”, says Claus Ravnsbo, Group CEO Geia Food.
About Geia Food
Geia Food is the leading supplier of food concepts in Scandinavia. The company acts as a value-creating link between skilled food producers and customers in the retail and food service sector. Geia Food focuses on creating value for the company's partners by increasing the power of innovation and agility while reducing complexity and risk. The company employs approx. 120 employees and has offices in Denmark, Sweden, Norway and Finland. Read more at www.geiafood.dk
About Triton
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.
The 48 companies currently in Triton's portfolio have combined sales of around €17.7 billion and around 102,000 employees.
For further information: www.triton-partners.com
