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07/2023

JOHAN I HALLEN & BERGFALK acquired by METRO

SWEDEN B2B Specialized Distribution EV €100–350M

Context

METRO AG expanded its European foodservice distribution platform through the acquisition of Johan i Hallen & Bergfalk (JHB) from Litorina. JHB is a leading Nordic supplier of fresh meat, fish and seafood products to the HoReCa sector, holding a strong position across Sweden and Finland. The acquisition provides METRO with an immediate entry into the Swedish and Finnish foodservice markets while strengthening its expertise in fresh protein categories. JHB contributes a well-established regional platform, long-standing customer relationships and differentiated processing capabilities. The transaction supports METRO’s strategy to expand its Food Service Distribution business, broaden its Northern European footprint and increase exposure to recurring demand from professional hospitality customers. JHB will continue to operate under its existing brand while benefiting from METRO’s international sourcing capabilities and foodservice distribution network.

JOHAN I HALLEN & BERGFALK, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Business Services sector (11.4x).

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Target

Johan i Hallen & Bergfalk is a Nordic supplier specialising in the distribution and processing of fresh protein products for the HoReCa (hotel/restaurant/café) sector. The group is a leading player in Sweden across meat, fish and seafood categories and maintains an established presence in Finland. The company was formed in 2018 through the combination of Johan i Hallen and Bergfalk and was subsequently strengthened through a series of add-on acquisitions under the ownership of Litorina. Johan i Hallen & Bergfalk serves more than 4,000 professional customers, primarily hotels, restaurants, caterers and foodservice operators. The group operates production and logistics facilities across Sweden and Finland, enabling sourcing, processing, portioning and distribution of fresh protein products. Its operating model is built around category expertise, integrated processing capabilities and close customer relationships within the foodservice sector.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2022
€100–200M
[members only]
[members only]
2021
€100–200M
[members only]
[members only]

Other operations with JOHAN I HALLEN & BERGFALK

Other operations with JOHAN I HALLEN & BERGFALK

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
12/2023JOHAN I HALLEN & BERGFALKFISK IDAGSWEDENB2B Specialized Distribution

REFERENCES

Valuation range: EV €100–350M

Revenue range: €100–200M

EV/Revenue range: below 1.5x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of JOHAN I HALLEN & BERGFALK by METRO are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: johan i hallen & bergfalk

Acquirer: metro