Equity firm acquires Kraft snack businesses overseas
August 08, 2008
by Eric Schroeder
LYSAKER, NORWAY — Herkules Private Equity Fund announced it has acquired Kraft Foods Inc.’s salted snacks business in the Nordic and Baltic countries. As part of the transaction, terms of which were not disclosed, Herkules would acquire the Maarud and Estrella brands in Norway, Sweden, Finland, Denmark, Estonia, Latvia and Lithuania, as well as the Taffel Chips brand in Denmark.
According to Herkules, the salted snacks business ranks No. 1 in potato chips in Sweden, Norway and Lithuania, and No. 2 in Denmark, Finland, Estonia and Latvia. Production facilities included in the transaction are located at Disena, Norway; Angered, Sweden; and Kaunas, Lithuania.
"Kraft has not prioritized the salted snacks business in the Nordic and the Baltic countries as it is not one of their key categories," said Gert W. Munthe, managing partner at Herkules Capital. "We see great potential in releasing the power of the brands Maarud and Estrella and the many highly skilled employees in the company."