Nordic Capital Fund VII (“Nordic Capital”) today announced the agreement to acquire the largest Finnish discount store chain Tokmanni from funds managed by CapMan and the other owners of Tokmanni Group.
Tokmanni is Finland’s largest discount store chain with 144 stores across the country. The company has grown substantially over the last years and has a unique market position in a growing market. The turnover in 2011 was approximately EUR 650 million and the company has more than 2,900 employees.
“Nordic Capital is very impressed with the development of Tokmanni Group and looks forward to the company building on its successes and continuing to offer high quality products at affordable prices. With the support of Nordic Capital, Tokmanni Group can further strengthen its position as Finland’s largest discount store chain”, said Robert Furuhjelm, Partner, NC Advisory Oy, advisor to the Nordic Capital Funds.
“Tokmanni’s success is a testament to our commitment to doing the right thing for our business. We have completed significant strategic development projects under CapMan’s ownership, of which one of the most relevant is the establishment of a new logistics centre. We have also expanded our store network, and today have some 50 million visitors in Tokmanni chain stores annually. In Nordic Capital we will gain a strong owner, who will support us in the ongoing development of our company”, says Heikki Väänänen, CEO of Tokmanni Group.
