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RAMBERG ADVISES AXFOOD IN CONNECTION WITH AXFOOD’S AND NORGESGRUPEN’S ACQUISITION OF EUROCASH FOOD AB
Ramberg Advokater (Sweden) has advised Axfood Aktiebolag (publ) in connection with Axfood’s acquisition of Eurocash Food AB. Further, Axfood has entered into an agreement with Norgesgruppen regarding the transfer of 49 per cent of the shares in Eurocash Food AB to Norgesgruppen upon approval from the Swedish Competition Authority of Axfood’s acquisition. The acquisition and conceived transfer to Norgesgruppen marks a deeper collaboration between Axfood and Norgesgruppen, which was previously based on purchases of certain private label products.Eurocash is the second-largest food retailer along Sweden’s border with Norway, with eight stores and sales of approximately SEK 1.2 billion.Commenting on the deal, Anders Strålman, President and CEO of Axfood, said: “The acquisition of Eurocash is part of our strategy to grow sales and strengthen our market share in Sweden. At present Axfood does not have any food retail stores along the border with Norway. We will now gain access to the growing cross-border shopping segment – a market with sales of some SEK 14 billion.Ramberg Advokater’s team primarily consists of Sandra Brånstad and Felix Ljunggren.