2001-08-24

Industri Kapital sells Guldfynd to Albrekts Guld

The Industri Kapital 1989 Fund and the management of Guldfynd have signed an agreement regarding the sale of all shares in Guldfynd AB to Albrekts Guld AB.

”It is satisfying that Guldfynd will get a new owner that can develop the company’s full potential and furthermore has sound knowledge of the business. Albrekts acquisition of Guldfynd is a natural step in the ongoing industry consolidation”, says Hannu Ryöppönen, Director of Industri Kapital.

”We know Guldfynd and Hallbergs as two fine companies and we are looking forward to the possibility of developing them together with Albrekts Guld. Through economies of scale we believe that the costs in the new company can be further reduced. This gives us the possibility to offer our quality merchandise at very competitive prices, which in turn will benefit the consumer ”, says Sten Warborn of Albrekts Guld.

The Guldfynd Group, with its two retail chains Guldfynd and Hallbergs, is the leading jewellery retailer in Sweden. The Company offers a wide range of fashionable quality products in gold, silver and costume jewellery with complementary products such as watches, table silver and gifts. Today the Guldfynd operates 116 shops, 21 of which are franchises in 60 districts across Sweden. Hallbergs Guld operates 34 shops, of which one is a franchise. The Guldfynd Group has a turnover of approximately 600 million SEK and employs some 520 persons on an annual basis.

Albrekts Guld is one of Sweden’s leading jewellery retailer with a turn over of about 220 million SEK including VAT. The Company at present has 34 shops and employs about 140 people on an annual basis.

Industri Kapital is a leading European private equity firm with equity capital under management in excess of EUR 3 billion. Since 1989, 43 investments have been made in European companies in various industries. The fund investors are generally large Nordic, European and American institutional investors such as pension funds, investment and insurance companies.

For further information please contact:
Björn Savén, VD, Industri Kapital, +46 8 678 95 00
Hannu Ryöppönen, direktör, Industri Kapital, +44 20 7304 43 00
Sten Warborn, VD, Albrekts Guld, +46 340 645 400

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