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Date:Wednesday 27 November 2013
Title:With Cloetta now an established Nordic market leader, Nordic Capital Fund V and CVC Capital Partners have elected to sell their remaining holdings

With Cloetta now an established Nordic market leader, Nordic Capital Fund V and CVC Capital Partners have elected to sell their remaining holdings

Nordic Capital Fund V ("Nordic Capital") and funds advised by CVC Capital Partners ("CVC") have through their respective holding companies, Cidron Pord S.A.R.L. ("Cidron") and Godis Holding S.A.R.L. ("Godis), sold their entire holding of 16.1 per cent of the shares in Cloetta AB ("Cloetta") in a placement to institutional investors in Sweden and other countries. The placement was made at a price of SEK 19.40 per B-share. There has been an extremely high level of interest among investors in acquiring Cloetta shares.

Nordic Capital and CVC acquired Leaf in March 2005 with the goal of growing the company and strengthening its competitiveness. Leaf and listed Cloetta merged in February 2012. The merged company has since then been listed on Nasdaq OMX Stockholm as Cloetta AB (publ.).

"We want to extend our sincere thanks to Cloetta's management and employees for all of their hard work over the years. We have tremendous confidence in them and in their ability to continue developing the company. It is particularly satisfying that Leaf relocated its headquarters to Sweden under Nordic Capital and CVC's ownership, so that Cloetta - that has some of the best-known consumer brands in the Nordics - now can continue to grow from its base in Sweden," said Hans Eckerström, member of Cloetta's Board of Directors and Partner, NC Advisory AB, advisor to the Nordic Capital funds.

"Nordic Capital and CVC have now achieved their goals as owners. Leaf was merged with Cloetta following a period during which the company's management structure was strengthened, a new factory was established in Slovakia and a wide range of new products was launched. After management's successful integration of the businesses, which laid the foundation for profitable growth, it is now a natural time for Nordic Capital and CVC to step aside as owners. We are pleased that continuity is assured for the company with Malfors Promotor as the principal owner," said Peter Törnquist, member of Cloetta's Board of Directors and Partner at CVC.

The brands owned by Cloetta include some of the most popular and well-known confectionery brands in each of its markets. Cloetta is a market leader in the Nordic region and several European countries, notably the Netherlands and Italy. Cloetta's products - which include some of its markets' strongest brands such as Läkerol, Cloetta, Jenkki, Kexchoklad, Red Band, Sperlari and Malaco - are sold in over 50 countries.

The sale comprised a total of 46.4 million Cloetta B-shares at a value of SEK 901 million, of which 25.9 million B-shares (pro rata share of 56%) were sold by Nordic Capital and 20.5 million B-shares (pro rata share of 44%) were sold by CVC. Following the sale neither Nordic Capital nor CVC hold any Cloetta shares.

The sale was conducted through a book-building process with the price set at SEK 19.40 per B-share. The shares were distributed among several institutions in Sweden, other European countries and the US. Interest from investors was extremely high.

Nordic Capital and CVC owned a total of 57% of Cloetta's shares in November 2012. The holding has been progressively reduced since then.

Carnegie Investment Bank and Handelsbanken Capital Markets served as Joint Bookrunners in n the transaction.

The shareholder agreement between Nordic Capital, CVC and Malfors has expired. The composition of the new board of directors will be determined in conjunction with Cloetta's 2014 Annual General Meeting. 

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For additional information, please contact:
Nordic Capital
Katarina Janerud, Communications Manager
NC Advisory AB, advisor to the Nordic Capital funds
Tel: +46 709 69 69 99
katerina.janerud@nordiccapital.com
CVC Capital Partners
James Olley, Brunswick Group
Tel: +44 (0)20 7404 5959
cvceurope@brunswickgroup.com


About Nordic Capital

Nordic Capital private equity funds have invested in large and medium sized companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital has supported value creation in its investments. Nordic Capital funds' investors are principally international institutions. Nordic Capital funds invest in companies in northern Europe and in selected investment opportunities internationally. Nordic Capital funds are based in Jersey, Channel Islands and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. Additional information about Nordic Capital is available at www.nordiccapital.com.


About CVC Capital Partners

CVC is one of the world's leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 21 offices and 280 employees throughout Europe, Asia and the US. Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. To date, CVC has secured commitments of over US$60 billion in funds from a diverse and loyal investor base, completing over 300 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of over US$150 billion. For further information, please visit www.cvc.com.