METRO expands into Sweden and Finland through acquisition of leading FSD business Johan i Hallen & Bergfalk

METRO AG acquires JOHBECO AB ("Group"), whose subsidiary Johan i Hallen & Bergfalk is a leading Swedish specialist supplier for meat, fish, and seafood. JHB, with the expertise of more than 350 employees, supplies to more than 4,000 customers in Sweden and Finland, mainly in the HoReCa sector. Over 50% of sales come from its own processing of meat and fish. JHB is a robust addition to METRO’s existing FSD portfolio and grants access to one of the largest foodservice markets in Europe.

Furthermore, the Group also has an attractive financial track record of approx. €180 million sales, a double-digit EBITDA and a strong FCF over the past years. The agreed purchase price is approx. € 100 million.

"Johan i Hallen & Bergfalk is a strong match for METRO. JHB will further increase our delivery sales and contribute to meeting our sCore targets for 2030. Sweden and Finland combined form the sixth largest food service market in Europe and have one of the highest meat and fish consumption per capita in Europe. JHB brings a high level of competence in these categories into our FSD portfolio while METRO can strengthen JHB’s procurement activities, enrich its offering and thus expand its market share", explains METRO AG’s CEO Dr Steffen Greubel.

JHB has a strong presence in major metropolitan areas of Sweden and Finland and is renowned for high service levels to its customers. Products are delivered to customers from its 5 warehouses while roughly 40% of its sales are generated digitally. In this new chapter alongside with METRO, JHB is well positioned to keep its growth momentum and expand market share in foodservice markets of Sweden and Finland which are estimated to be worth approx. €7 billion (sell-in) on a combined basis and expected to grow at a ~3% CAGR until 2026.

JHB will be consolidated into METRO’s financial statements from closing onwards (starting Q3 FY2022/23). JHB will continue to operate its business independently under its own brand, Johan i Hallen & Bergfalk, with its more than 350 employees, headquarters, production facilities and warehouses.