Qliro Group AB (publ.) (“Qliro Group”) has entered into an agreement to sell its subsidiary Health and Sports Nutrition Group HSNG AB (“HSNG”) to Orkla Care ASA (a subsidiary of Orkla ASA). The enterprise value of HSNG in the transaction is SEK 360 million. The transaction is expected to be completed in the first quarter of 2018.
Health and Sports Nutrition Group operates e.g. the online stores Gymgrossisten.com, Bodystore.com, Milebreaker.com and conducts wholesale operations through Fitness Market Nordic. HSNG was established in 1996 and was acquired by Qliro Group in 2008. Since the acquisition, HSNG has grown from a turnover of approximately SEK 110 million to over SEK 800 million in 2016.
Carnegie acts as sole financial adviser to Qliro Group in connection with the transaction.