Litorina IV has signed an agreement to acquire the majority of the shares in KungSängen, a leading Swedish manufacturer and retailer of beds and bed accessories. The company has an annual turnover of about SEK 300 million and sells more than 30 000 beds through 37 KungSängen stores, a third-party retailer in Finland and through its own webstore. The Gustafsson family, previous owners of KungSängen, will retain a considerable ownership in the company.
KungSängen, founded in 1998, is a leading Swedish manufacturer and retailer of beds and bed accessories, catering mainly to the mid-price segment. KungSängen manufactures the majority of its beds at the production facilities in Enköping, Sweden, and the primary sales channels are KungSängen stores and the proprietary webstore.
Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina Capital Advisors AB serves as an investment advisor for Litorina’s funds. Litorina is backed by a number of reputable institutions that have jointly invested approximately SEK 4.8 billion in Litorina’s four funds.
Lars Weibull AB acted as sell side advisor in the transaction.