Cederroth’s strategy is to provide local brands to local markets within the woundcare, household, health care, and personal care sectors. The company operates in 30 European countries, of which Sweden is currently the largest single market. The Nordic countries together represent some 67 per cent of the company’s net sales. Cederroth’s product portfolio comprises of approximately 50 brands. Many of them are well-known with long heritage in their respective markets such as Salvequick, Bliw, Family Fresh, Samarin, Soraya, Asan and Grumme among others. Cederroth has some 870 employees and the company’s net sales for 2007 totalled approximately EUR 188 million.
Cederroth was originally founded in 1895 by the Cederroth family in Sweden. The company has grown both organically and via acquisitions and has shown steady growth during the last decade. Cederroth has been a subsidiary of Alberto-Culver Company since 1992.
”We believe that Cederroth’s position with strong local brands in local markets is very attractive and has further potential to be strengthened and developed. The company has shown a solid performance and we believe there are many growth opportunities going forward. We are impressed by Cederroth’s management and employees and we are looking forward to work and develop the Company further together with them,” says CapMan Partner Mats Gullbrandsson.
“We are very pleased to have CapMan as a new owner. I believe that CapMan’s experience in business development, their Nordic partner network and financial support will give us the opportunity to actively develop Cederroth and pursue interesting growth and business opportunities,” says Leif Wahlgren, CEO of Cederroth since 2003.
“We are very pleased to have found a strong buyer in CapMan with their Nordic region insight and experience in consumer products. For Alberto-Culver, this transaction helps facilitate our ability to focus on growing our core beauty care brands TRESemmé, Nexxus, Alberto VO5 and St. Ives in our core markets,” says Alberto-Culver’s President and Chief Executive Officer, V. James Marino.
The investment in the company is made by CapMan Buyout VIII and CapMan Mezzanine IV funds, in which CapMan Plc is a substantial investor. A minority part of the investment will be syndicated with Litorina Kapital. The execution of the transaction is subject to approval by relevant competition authorities, and it is expected to be finalised by the end of July.
CapMan’s advisors in the transaction were Catella Consumer (financial), Vinge (legal), KPMG Transaction Services (financial) and Environ (environmental).
For more information, please contact:
Mats Gullbrandsson, Partner, CapMan Buyout, tel. +46 734 40 84 88
Leif Wahlgren, CEO of Cederroth, tel. +46 705 20 89 19