ÖoB AB and Europris ASA create the leading Nordic discount variety retail platform
Europris ASA and the Svensson family, owners of Runsvengruppen AB and ÖoB AB, have entered into an agreement to create a pan-Nordic discount retail platform. Together, the companies operate 349 stores in Norway and Sweden and had aggregated sales exceeding SEK 10 billion during 2017.
Runsvengruppen AB was founded in 1947 by Rune Svensson and is today owned by the second and third generation in the family. Runsvengruppen AB operates its main business through the chain store ÖoB AB, which offers low-price products to consumers.
The Svensson family will now join forces with Europris to create long-term value for all stakeholders. The transaction involves an initial acquisition by Europris of a 20% equity stake in ÖoB in exchange of shares in Europris. As part of the transaction, Europris has an option to acquire the remaining 80 % stake in 2020. The consideration for this stake will also be settled in Europris shares, which secures the Svensson family’s long-term ownership in the joint company. Both companies will continue to be run as independent companies under their own brand and management.
The Svensson family was advised by Mannheimer Swartling in the transaction.