Litorina has agreed to sell its ownership in Allévo to Karo Bio AB (publ), a healthcare company listed on Nasdaq Stockholm.
The Allévo brand consists of a product portfolio within weight management and generated sales of SEK 62 million in 2015.
Litorina’s divestment of its 20% holding in Cederroth to Orkla was approved by the competition authorities in August 2015 subject to divestment of the Allévo brand, resulting in the divestment of Allévo to Karo Bio. The total consideration for Allévo amounted to approximately SEK 60 million.
For further information, please contact:
Lars Verneholt, +46 (0)8 545 180 11, Partner at Litorina Capital Advisors.
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 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, please see www.litorina.se.