In a statement, Metro said that JHB was a 'robust' addition to its FSD portfolio, which 'grants access to one of the largest foodservice markets in Europe'.
JHB generated revenue of €180 million last year, as well as double-digit EBITDA and strong free cash flow. It operates five warehouses, from which it undertakes deliveries, while approximately 40% of its sales are generated digitally.
Metro will complete its acquisition of the firm in mid-May 2023, the cash-and-carry firm added.
'A Strong Match'
"Johan i Hallen & Bergfalk is a strong match for Metro," said Metro CEO Dr Steffen Greubel. "JHB will further increase our delivery sales and contribute to meeting our sCore targets for 2030. Sweden and Finland combined form the sixth largest food service market in Europe and have one of the highest meat and fish consumption per capita in Europe.
"JHB brings a high level of competence in these categories into our FSD portfolio while Metro can strengthen JHB’s procurement activities, enrich its offering and thus expand its market share."
Following the acquisition, JHB will continue to operate its business independently, and retain its brand name.