Mutares has successfully completed the acquisition of Frigoscandia from Posten Norge

Strengthening the Goods & Services segment as a new platform Leading Temperature Controlled Food Logistics Business in the Nordics Revenues of around EUR 300 million expected in 2022

Munich, 27 December 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Frigoscandia from Posten Norge. The company further strengthens the Goods & Services segment as a new platform investment and offers multiple add-on opportunities in the Nordics and Mainland Europe in the future.

Founded in 1948, Frigoscandia is a leading Nordic player within fresh, chilled and frozen food logistics solutions. Customer's products are handled at temperatures from -25° to +25° C and traceable in real-time. The company operates out of 25 warehouses and terminals in Sweden and Norway, across its three segments Domestic Transport, International Transport and Warehousing.

The company is headquartered in Helsingborg, Sweden, and mainly offers its services across Europe, with a particular focus on the Nordics. Frigoscandia employs more than 1,000 people and plans to generate around EUR 300 million in revenues in 2022.

 

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires small- and medium-sized companies and parts of groups in special situations with headquarters in Europe that show significant potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops its portfolio companies with its own investment and operations teams as well as through acquisitions of strategic add-ons. With a focus on sustainable growth of the portfolio companies, the objective is to achieve a significant increase in value with a ROIC (return on invested capital) of 7 to 10 times on the total investment. In the financial year 2020, Mutares generated consolidated annual revenues of around EUR 1.6 billion with more than 12,000 employees worldwide in the Group. For the financial year 2021, consolidated revenues of at least EUR 2.4 billion are already expected. Based on this, consolidated revenues are to be expanded to at least EUR 5 billion by 2023. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. At this level, the medium- to long-term target for dividend-relevant net income is 1.8% to 2.2% of consolidated revenues. Mutares is strongly committed to a sustainable dividend policy consisting of a base dividend and an exit-dependent performance dividend. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).

For more information, please contact:

Mutares SE & Co. KGaA
Investor Relations
Phone +49 89 9292 7760
E-mail: ir@mutares.de
www.mutares.de

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