Transaction: Divestments
Date: June 2017
Deal value: Not disclosed
Process: Private auction
Industry: Retail and Consumer Goods

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FIH Partners advised FSN Capital on the divestment of Lagkagehuset / Ole & Steen

FIH Partners advised FSN Capital, a leading Nordic private equity firm, on the divestment of Lagkagehuset, a chain of bakery cafés with 69 stores in Denmark and London to Nordic Capital, a leading Northern European private equity firm.

Lagkagehuset is the largest Danish high-end bakery chain and one of the most successful food retail concepts in Denmark in recent years. In 2008, FSN partnered with two of Denmark’s most talented bakers to create a chain of high-end bakery cafes under the name of Lagkagehuset. Since then, the number of stores across Denmark has increased from 3 to 67 and the Company is aiming to further increase its footprint across Denmark over the coming years.

Under the brand name Ole & Steen the concept has recently been successfully introduced in London with two flagship stores and the Company is planning to expand further throughout Greater London and into several other new markets over the coming years.

The company had a turnover of DKK 665 million and 1,800 employees in 2016.

The parties have agreed not to disclose the financial details of the transaction.