News. 15/09/14

Procuritas Capital Investors IV signs agreement to sell King Oscar Holding AS

Guernsey/Stockholm

Procuritas Capital Investors IV LP A (PCI IV) has signed an agreement to sell King Oscar Holding A/S to Thai Union Frozen Products (TUF), a Bangkok listed, global leading seafood company with 2013 revenues of ca.3,6 BUSD.

The transaction is subject to customary antitrust review and closing of the transaction is expected in Q4 2014.

King Oscar is a leading Norwegian canned seafood manufacturer, best known for its King Oscar Brisling Sardines which have been distributed worldwide for more than a century. King Oscar’s largest markets are found in the USA, Norway and Poland. Its headquarters are in Bergen, Norway. Manufacturing facilities are located in Gniewino, Poland and Svolvær, Norway. Total employees are ca 450. 2013 turnover was 454 MNOK with EBITDA of 51 MNOK.

For further information on King Oscar see www.kingoscar.com

About Procuritas

PCI IV is a private equity fund focusing on mid-sized companies in the Nordic Region. PCI IV is advised by Procuritas Partners AB and Procuritas Partners GmbH. Procuritas is a Scandinavian private equity house specialized in initiating, structuring, and financing management buyouts. Founded in 1986, the company was the pioneer in introducing the concept of management buyouts in the Nordic region.

More information about Procuritas can be found on www.procuritas.com.

Procuritas used McQueen and Castlegreen Partners as corporate finance advisers; Thommesen for legal and PWC for financial assistance.

For further information, please contact:

Procuritas
Erik Fougner, Partner, Procuritas Partners GmbH, tel. +41 798 87 54 74
Tomas Therén, Partner, Procuritas Partners AB, tel. +46 733 25 45 02

King Oscar
Helge Midttun, Chairman tel. +47 913 35 790
Geir Arne Åsnes, CEO tel. +47 906 96 983

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