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Axfood Matse Takeover Approved By Swedish Authorities

Published on Jan 25 2017 10:00 AM in Retail tagged: Trending Posts / Sweden / Axfood / Matse Holding

Axfood Matse Takeover Approved By Swedish Authorities

Swedish food retailer and wholesaler Axfood has announced that the Swedish Competition Authority has approved the company's planned acquisition of Matse Holding. The approval was announced on 23 January.

Axfood had earlier reported in December 2016 that it had made a cash offer to the shareholders of Matse, to acquire all shares in the company. The offer depended on the approval of the Swedish Competition Authority, which has now has been granted.

The takeover has been scheduled for the end of January 2017. Axfood has retained the right to extend the acceptance period and the right to postpone disclosing the financial details of the agreement.

Matse Holding is a Swedish company, which operates in the services sector. Its operations include an online grocery store, Matse AB and a Cold Cargo division, which transports refrigerated goods, ordered online.

The Axfood Group operates chains Willys and Hemköp in the country. It has 264 group-owned stores and roughly 820 collaborating stores. Its 2015 sales reached SEK 41.2 million (€4.2 million).

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. Click subscribe to sign-up for ESM: The European Supermarket Magazine

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