January 23, 2018

Finnish companies acquire firm foothold in Sweden

Swedish musician Avicii is one of the owners of the trendy Mode Cold Brew.
Swedish musician Avicii is one of the owners of the trendy Mode Cold Brew.

Finnish law firm Fondia and food industry company Paulig have bought stock in Swedish companies.

The largest non-bar law firm in the Nordic region, Fondia has acquired the entire share capital of Swedish law firm Jansson & Norin (J & N). The purchase price amounted to approximately 1.6 million euros and the transaction will be finalised on 31 January, after which the two companies will merge.

J & N currently has 21 employees in its Gothenburg and Stockholm offices and its 2017 turnover was 1.4 million euros. The terms of the transaction also includes an earn-out scheme with a maximum additional payment of 700 000 euros, depending on J & N’s turnover for the next two years.

Meanwhile, Finnish family-owned food and beverage specialists Paulig has bought a majority share of 51 per cent in the Swedish coffee startup Mode Cold Brew. Alongside strengthening its position in Sweden, the move also sees Paulig expanding its product selection with the unique cold brew coffee completely free of additives and sugar.

As this is one the fastest growing beverage segments, the partnership with Mode Cold Brew is in line with Paulig’s strategy to learn from startups in order to stay at the forefront of food industry innovation and development.

Mode Cold Brew will continue its independent, entrepreneur-led operations with support from Paulig, while the Finnish company will take care of distribution of the product in Finland and the Baltics.