Litorina divests Cederroth to Orkla

Litorina invested in Cederroth together with CapMan Buyout in 2008. Cederroth manufactures and distributes a wide range of products within the personal care, healthcare, wound care, household and first aid segments. The company has a portfolio of well-established brands such as LdB, Asan, Bliw, hth, Salvequick, LongoVital, Multiplex, Samarin, Allévo and Grumme. Cederroth operates in Sweden, Finland, Denmark, Norway, Poland and Spain. The company employs 850 people and achieved a turnover of approximately EUR 210 million in 2013.

“We have implemented several strategic initiatives during our ownership period, including optimization of the sales operations, development of the wound care division and a strategic consolidation of the manufacturing footprint. Cederroth is now in an excellent position to continue its successful growth as part of a bigger group” comments Lars Verneholt, Partner at Litorina Capital Advisors, the investment advisor to the fund Litorina Kapital III.

“During Litorina’s and CapMan’s ownership, Cederroth has grown both organically and through acquisitions, and many important operational improvements have been made. By merging our operations with Orkla Home & Personal we are able to realise synergies and augment our overall competitiveness in local markets where there is significant international competition” comments Mikael Nordin, CEO of Cederroth.

Litorina owns approximately 20% of Cederroth’s shares.

The transaction is subject to the approval of the relevant competition authorities. The agreement is expected to be completed during summer 2015.

For further information, please contact:

Lars Verneholt, +46 (0)8 545 180 11, Partner at Litorina Capital Advisors AB
Mikael Nordin +46 706 825 447, CEO Cederroth Intressenter AB

Litorina, founded in 1998, is a private equity firm that focuses on acquiring and industrially developing primarily Swedish companies together with their managements. Litorina offers broad and deep expertise both via its own organisation and through its network of industrial advisors. Litorina Capital Advisors AB acts as an investment advisor to Litorina’s active funds. Litorina is backed by a number of venerable and reputable institutions who have together invested approximately SEK 4.8 billion in Litorina’s four funds. For more information, see www.litorina.se.

Cederroth, founded in 1890, manufactures and distributes a wide range of products within the personal care, healthcare, wound care, household and first aid segments. The company has a portfolio of well-established brands such as LdB, Asan, Bliw, hth, Salvequick, LongoVital, Multiplex, Samarin, Allévo and Grumme. Cederroth operates in Sweden, Finland, Denmark, Norway, Poland and Spain. The company employs 850 people and achieved a turnover of approximately EUR 210 million in 2013. For more information, see www.cederroth.com.

Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordics, the Baltics and selected markets in Central Europe, Russia and India. Orkla is listed on the Oslo Stock Exchange and has its head office in Oslo. In 2013, the group had a turnover of NOK 33 billion, and around 17,000 employees at year-end. Orkla Home & Personal today comprises five branded consumer goods businesses which primarily serve the Nordic region as their home market. For more information, see www.orkla.com.