Frill Holding AB’s SEK 8.6 Million Acquisition of Juica Sverige AB

TM & Partners has advised Frill Holding AB on the deal.

Frill Holding AB (publ) has completed the acquisition of 100 percent of the shares in Juica Sverige AB (Juica AB).

The initial purchase price amounts to approximately SEK 8.6 million. Payment is made, partly through newly issued shares in Frill of approximately SEK 8.5 million (the “Remuneration Shares”), and partly through cash payment of approximately SEK 0.1 million. Additional purchase consideration in the form of newly issued shares in the Company to a value of SEK 5 million is paid if Juica AB reaches a sales target of SEK 40 million during the calendar year 2022. Juica AB had a turnover of approximately SEK 7.3 million in 2020.

The acquisition of Juica AB further strengthens Frill’s position and adds a number of products with high potential to Frill’s already diversified and interesting product portfolio. The acquisition is in line with Frill’s previously communicated strategy of building an expansive portfolio of brands through both acquisitions and organic growth in the fast-growing functional foods sector.

Juica AB today mainly offers products from two brands, Juica and Juicekultur. The company produces, markets and sells organic, cold-pressed and unpasteurized fruit and vegetable juices completely without additives. The company’s products are sold in the grocery trade, the service trade and in hotel, restaurant and catering operations as well as through both own and external e-commerce. Juica currently has a number of different products for sale and further news will be launched during the year. Juica had sales of approximately SEK 7.3 million in 2020, with a profit of SEK -3.3 million. At the beginning of 2021, Juica AB launched its new product series under the Juicekultur brand, and the launch has been well received by the market.

Frill is an innovative company that has developed a unique food tech platform for the development of products within functional foods. Through organic growth and acquisition strategy, the company will become a leading company in Functional foods in the Nordics and contribute to better health and quality of life. Current brands within the Frill Group are: iQ Fuel, Homie Life in Balance, Bezzt of Nature, Nathalie’s Direct Trade, Frill, Add Ice Cream, Bacoccoli and Juica.

Frill Holding creates healthy dietary alternatives based on scientific facts and delivers affordable and nutritious diets to consumers. The company is based in Stockholm and is listed on the Nasdaq First North Growth Market.

TM & Partners’ team consisted of partners Vaiva Eriksson (Picture) and Sandra Broneus and associates Philip Reznik, Tom Bovaller, Philip Bihl, Jacob Elovsson Hultin, Cecilia Bergman, Andreas Sahlstedt and Mark Gebert.

Involved fees earner: Cecilia Bergman – Törngren Magnell; Philip Bihl – Törngren Magnell; Tom Bovaller – Törngren Magnell; Sandra Broneus – Törngren Magnell; Jacob Elovsson Hultin – Törngren Magnell; Vaiva Eriksson – Törngren Magnell; Mark Gebert – Törngren Magnell; Philip Reznik – Törngren Magnell; Andreas Sahlstedt – Törngren Magnell;

Law Firms: Törngren Magnell;

Clients: Frill Holding AB;

Federica Tiefenthaler

Author: Federica Tiefenthaler