Lincoln International advised Litorina on the sale of Johan i Hallen & Bergfalk to METRO

Litorina has sold Johan i Hallen & Bergfalk to METRO

Johan i Hallen & Bergfalk

Johan i Hallen & Bergfalk (JHB) is a leading Swedish specialist provider of fresh proteins to the hotels, restaurants and catering (HoReCa) segment with sales of SEK 2 billion with market-leading margins. JHB serves more than 4,000 HoReCa customers with a high level of its own produce in the metropolitan regions of Sweden and Finland. The group was founded by Litorina in 2018 through a partnership between Bergfalk and Johan i Hallen, followed by further bolt-on acquisitions in Sweden and Finland.

The Deal

Litorina has signed an agreement to divest JHB to Metro FSD Holding GmbH, a subsidiary of international wholesaler METRO AG, expanding its foodservice delivery (FSD) portfolio and entering the foodservice markets of Sweden and Finland. The acquisition will accelerate METRO’s FSD sales ambitions and bring a high level of competence within fresh proteins.

As a leading provider of fresh meat and seafood, with proprietary production capabilities and strong relationships with HoReCa customers across Sweden and Finland, JHB is an attractive addition to METRO’s FSD portfolio and grants access to one of the largest foodservice markets in Europe.

Advising Litorina, Lincoln International provided full sell-side process management, working closely with the team throughout the transaction, supporting with industry insights, strategic advice, valuation and financial modeling. The effective cross-border collaboration enabled a flexible and efficient process.

Our Perspective

Alex Masters, Managing Director in Lincoln’s London office, and Gunnar Brundin, Managing Director in Lincoln’s Stockholm office, commented, “It was a pleasure to advise Litorina and JHB, and we extend our congratulations to them both on this exciting deal. JHB’s strong market position generated interest from both domestic and international foodservice distributors either gaining a strategic foothold in the Nordic market or enhancing existing operations. We are confident that the acquisition will enable JHB to expand and enrich its offering, while further enhancing its reputation as a trusted supplier of high-quality fresh proteins. Lincoln’s expertise in the food and beverage sector allowed us to guide Litorina and JHB through the sale process with confidence. We are proud of our role in this transaction, and we look forward to following JHB’s continued growth and success as it embarks on the next phase of its growth journey.”

Litorina

Founded in 1998, Litorina is a Sweden-based private equity firm which invests in niche market-leading companies with headquarters in the Nordics. Litorina partners with management teams and entrepreneurs that want to take their companies to their full potential. Litorina aims to build larger, better and more sustainable companies by contributing relevant experience, knowledge, passion and resources to accelerate growth.

METRO

METRO is a leading international food wholesale company which specializes in serving the needs of hotels, restaurants and caterers as well as independent merchants (traders). In financial year 2021 / 2022, METRO generated sales of €29.8 billion. Around the world, METRO has approximately 17 million customers who benefit from the wholesale company’s unique multichannel mix. Customers can shop for their goods in one of the large stores in their area or have them delivered – all with digital support and connection. METRO operates in more than 30 countries and employs more than 93,000 people worldwide.