The management team of Iceland Foods, led by founder Malcolm Walker, has successfully acquired the company from the liquidators of the failed Icelandic banks Landsbanki and Glitnir. This transaction returns the company to British ownership and operational independence after a period of uncertainty following the 2008 Icelandic banking collapse. The deal structure involves the management team securing 43% of the equity and board control, while a consortium of three co-investors (Brait, Lord Kirkham, Landmark Group) acquires the remaining 57%. The acquisition is funded through a combination of equity and a substantial all-senior debt package provided by a syndicate of five major banks.

ICELAND FOODS GROUP, which reported an EBITDA margin of LOGIN in 2012, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the Retail & Consumer sector (10.9x).

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