Sweden's Findus up for sale.By Wallenberg Family The Wallenberg family is one of the most influential and wealthy families in Sweden, renowned as bankers and industrialists.The Wallenberg family
Findus, one of the pioneer frozen food brands of Europe, is about the change hands again. Nordic buyout firm EQT EQT Environmental Qualification Test EQT Engine Qualification Test EQT Engineering Qualification Testing EQT Equatorial Crossing Time EQT Emotional Quotient Theory EQT Engineer Qualification Tables , which is owned by Wallenberg family holding company Investor AB Investor AB is a Swedish investment company, founded in 1916 and still controlled by the Wallenberg family. The company owns a controlling stake in several large Swedish companies. In 2006 it had a market value of 119 billion kronor (€13 billion). ($16 billion). , has reportedly put it up for sale for approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 700 million. EQT had acquired Findus a few years ago from Swiss food conglomerate Nestle SA. The company had originated as a cannery, but started producing frozen food in the 1950's and by the time Nestle took over it was strictly a frozen food operation. Total sales for 2002 were EUR 620 million, with profits of EUR 60 million. Although its primary market is Sweden, Findus' second largest market among 14 other countries is the UK. Indeed, the company maintained its corporate headquarters in London until late last year, when it moved back to Malmo, Sweden. At the same time, it integrated its retail and catering units. US investment bank Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. is handling
sale of the entire operation.
|
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion