Scandi Standard acquires Bosarpskyckling AB
Scandi Standard, through its subsidiary Kronfågel AB, is acquiring the Swedish organic and KRAV-approved chicken producer Bosarpskyckling AB. The acquisition will give Kronfågel AB an expanded customer offering, helping to meet the ever stronger demand for organic food.
Bosarpskyckling AB is Sweden’s leading producer of organic broiler chickens under the Bosarp brand. The company was founded in 1999 by Birgitta and Claes Alwén at Bosarp Farm in Skåne. Full-year turnover for 2013 was approximately SEK 25 million, and the company is expected to make a positive contribution towards Scandi Standard’s results from the outset. The average compound annual growth rate (CAGR) has been twelve percent since 2010. The purchase sum is maximum SEK 33 million on a debt-free basis. The company is supplied by five contracted farmers.
“This acquisition is in line with our long-term strategy of offering consumers healthy and climate-smart chicken products,” says Leif Bergvall Hansen, CEO of Scandi Standard.
“Demand for white meat is growing, and the acquisition will enable Kronfågel AB to further develop and strengthen its customer offering with KRAV-approved, organic premium chicken,” says Magnus Lagergren, CEO of Kronfågel AB.
“We are delighted that Kronfågel AB will be our new owner,” says the Alwén family via Birgitta Alwén. “Together, Bosarp and Kronfågel will develop our business to meet the growing demand for Bosarp’s organic chicken.”
The acquisition is expected to be completed during the third quarter of 2014.
The CEO of Bosarp will be Christian Gylche, son of Birgitta Alwén.
If you have any questions, please contact:
Leif Bergvall Hansen, CEO of Scandi Standard, telephone: +45 221 005 44
Magnus Lagergren, CEO of Kronfågel AB, telephone: +46 702 55 52 35
Christian Gylche, CEO of Bosarp AB, telephone: +46 705 85 81 27
KRAV is a Swedish association which certifies organic production.
About Kronfågel AB
Kronfågel AB is Sweden’s market-leading chicken producer. We produce, sell and market chilled, frozen and prepared chicken. We are part of the stock exchange listed Scandi Standard Group, the Nordic region’s largest chicken producer with leading positions in Sweden, Denmark and Norway through its strong brands Kronfågel, Danpo, Den Stolte Hane, Vestfold Fugl, Ivars and Chicky World. In Norway, eggs are also produced and sold under the Den Stolte Hane brand. Together, we have around 1,700 employees and a turnover of more than SEK 5 billion. Find out more at www.kronfagel.se or www.scandistandard.com
About Bosarpskyckling AB
Bosarpskyckling AB produces Swedish, organic, KRAV-approved chicken that is sold under the Bosarp brand. The company was founded in 1999 by the Alwén family at Bosarp Farm in Skåne. In 2013, the company’s turnover was approximately SEK 25 million. Its annual volume is 155,000 chickens through five contracted farmers. KRAV has rules which must be followed for the welfare, feeding and slaughter of animals. Find out more at www.bosarpkyckling.se