Fuud’s SEK 55 Million Acquisition of GI-Boxen And Foodbox

TM & Partners has assisted FUUD AB on the deal.

FUUD AB (publ) has entered into a conditional agreement on the acquisition of 100 percent of the shares in GI-Boxen Sweden AB and Foodbox Scandinavia AB.

The total initial purchase price amounts to SEK 55 million. Payment shall be made partly through 42,307,691 newly issued shares in Fuud at a subscription price of SEK 0.65 per share, corresponding to a total of SEK 27.5 million, and partly in the form of cash payments corresponding to a total of SEK 27.5 million. In addition, certain additional considerations can be made for the financial years 2022 and 2023. GI-Boxen had sales of approximately SEK 16.8 million in 2021, with EBITDA of approximately SEK 5.5 million. Foodbox had sales of approximately SEK 19 million in 2021, with EBITDA of approximately SEK 2.2 million. The acquisitions are conditional on financing.

GI-boxen is a fast-growing company in E-commerce of healthy food. GI-boxen sells a selection of nutritious and tasty frozen ready-made dishes with a balance of proteins, natural fats and healthy carbohydrates.

Foodbox is a company within the segment of exercise and health with over 450 retailers in Sweden. The company sells a selection of 13 healthy ready-made dishes, which are sold in the company’s own freezers in gyms, sports halls and other training facilities across the country. The dishes are created to promote an active life for those who want to feel good and get in shape.

The TM & Partners’ team was led by partners Vaiva Eriksson (Picture) and Johan Wigh, assisted by associates Sofia Lindh, Tom Bovaller, Philip Bihl, Jacob Elovsson Hultin, Sara Jacobson, Cecilia Bergman, Markus Ellström and Alexandra Rosell.

Involved fees earner: Cecilia Bergman – Törngren Magnell; Philip Bihl – Törngren Magnell; Tom Bovaller – Törngren Magnell; Markus Ellström – Törngren Magnell; Jacob Elovsson Hultin – Törngren Magnell; Vaiva Eriksson – Törngren Magnell; Sara Jacobson – Törngren Magnell; Sofia Lindh – Törngren Magnell; Alexandra Rosell – Törngren Magnell; Johan Wigh – Törngren Magnell;

Law Firms: Törngren Magnell;

Clients: Fuud AB;

Federica Tiefenthaler

Author: Federica Tiefenthaler