The publicly listed private equity company Mutares, headquartered in Munich, will acquire all the shares in Frigoscandia AB and its underlying companies. This is after the Swedish competition authority has given their approval of the deal, which was initially signed on 19-11-2021. The takeover will take place today, December 27, 2021.

The acquisition of Frigoscandia AB will be Mutares’ second Swedish investment and Mutares sees great opportunities in the Frigoscandia Group in the future. The acquisition of Frigoscandia is intended to strengthen the goods and services segment as a new platform investment with several additional opportunities in the Nordic region and Continental Europe.

• We are very happy that the Swedish Competition Authority has handled the matter so quickly as we are looking forward to gettinginvolved in Frigoscandia’s continued development. As Frigoscandia today has the Nordic region’s largest terminal and warehouse network, we now look forward to further strengthening the Nordic platform and the international offer, says Carl Kistenmacher, Head of Nordics at Mutares SE & Co. KGaA.

• I and the management team in Frigoscandia feel great confidence in this change. We have a very ambitious Business plan, and Mutares is an international investor with long experience who acts actively and operationally to support their portfolio companies in their development journeys towards stronger market position and profitability, says Peter Haveneth, CEO of Frigoscandia AB.

An eventful year for Frigoscandia

In 2021, Frigoscandia has taken several steps in line with the new business plan, which aims to further strengthen the company in its ambition tooperate as a strong and independent specialist company:

• Frigoscandia brand was relaunched

During the month of August, Bring Frigo officially switched back to its former brand Frigoscandia. A work that now continues under the new owner Mutares.

• Collaboration with the digital ordering platform Stockfiller in a new service

Leap Delivery is a new service where food suppliers to Swedish retailers are now given a new type of opportunity to conduct direct sales in combination with climate-smart deliveries.

• Ljusekulla Distribution Center

Launching a new type of infrastructure in Helsingborg where both warehouse and terminal functions share the same property, for a more efficient and environmentally friendly store distribution.

• Multitemp

New temperature zones are included in Frigoscandia’s offering, which has opened up for a number of new large customer contracts within storage and transport of less temperature-sensitive products.

• Sustainable initiatives
  Major investments in the past year in becoming fossil-free no later than after 2025 including:

o Recently placed an order with Scania for over 110 new trucks, where more than 75% are gas-powered and the remaining part is powered by other fossil-free fuels.

o Installation of solar panels at Ljusekulla with an estimated annual electricity production of 342,000 kWh.

For more information please contact:

Peter Haveneth, CEO Frigoscandia, phone number: +46702 35 38 14, E-mail: Peter.Haveneth@frigoscandia.com

About Mutares

Mutares acquires small and medium-sized enterprises and parts of enterprises in special situations with headquarters in Europe which show significant potential for business improvement and which are resold after undergoing a relocation and stabilization process. Mutares actively supports and develops its portfolio companies with its own investment and operations teams and through the acquisition of strategic additional activities.

About Frigoscandia

Frigoscandia AB was founded in 1948 and is the market leader in temperature controlled logistics in Sweden and operates an international network in Sweden, Denmark, Finland, Norway, the Netherlands and France. The company operates 25 warehouses and terminals in Sweden and Norway, within its three segments domestic transport, international transport and warehouses. Frigoscandia AB has recently undergone a name change from the previous Bring Frigo AB. The company is headquartered in Helsingborg.