14 November 2014

Gernandt & Danielsson advises ICA Gruppen in connection with the acquisition of Apotek Hjärtat, Sweden’s largest privately owned pharmacy chain

ICA Gruppen has entered into an agreement with Altor regarding the acquisition of Apotek Hjärtat for a consideration of SEK 5.7 billion on a cash and debt free basis.

ICA Gruppen is already the owner of the pharmacy chain Cura apoteket and will, as a result of the transaction, have the number two position on the Swedish market with a market share of approximately 30 per cent. Apotek Hjärtat and Cura apoteket have combined sales amounting to approximately SEK 11 billion. The transaction is conditioned upon approvals from the Swedish Competition Authority and the Swedish Medical Products Agency.

Gernandt & Danielsson’s team is led by Partners Manfred Löfvenhaft and Krister Skoog and Senior Associate Gustav Skogö.