Fidelio increases its ownership in Greenfood
Greenfood today announces that Fidelio is increasing its ownership in the group. Fidelio, which has been a long-standing minority shareholder for almost 15 years, now becomes the majority owner. The transaction marks the culmination of a productive partnership with Nordic Capital and paves the way for Greenfood’s accelerated international expansion together with Fidelio.
Fidelio is increasing its ownership in Greenfood by acquiring Nordic Capital’s stake in the group. This marks the beginning of an exciting new phase for Greenfood, a company that has delivered record financial results in 2024 and established a leading position in the healthy food space in Europe and the U.S.
“As a long-standing shareholder, Fidelio has deep conviction in Greenfood’s platform and leadership team. We are excited to build on their strong foundation and to further support Greenfood’s international expansion, said Theodor Bonnier, Head of Value Creation at Fidelio.
Greenfood has established itself as a leader in healthy, affordable, and sustainable foods across Europe and the US. Since 2016, Greenfood has nearly doubled its revenues to SEK 5.6 billion and, through its foodtech company Picadeli, expanded its presence to ten international markets and 2,100 locations.
Nordic Capital, which became the majority shareholder in 2016, has played a key role in accelerating Greenfood’s expansion, alongside Fidelio. The partnership has enabled Greenfood to strengthen its platform and operations, even in challenging periods such as the pandemic, when certain business areas, like Picadeli, were temporarily impacted by large-scale lockdowns and reduced footfall.
Picadeli has since rebounded strongly, driving rapid growth across Europe and expanding into the U.S. market, where it has established around 150 salad bars through partnerships with major grocery chains, marking a significant step in bringing tech-enabled, healthy fast food to American consumers.
“Together with Nordic Capital and Fidelio, we have created a robust and scalable platform, achieved our best-ever results in 2024, and set new industry standards in digitalisation and sustainability. As we turn this exciting page together with Fidelio, we are confident in our ability to further accelerate growth, foster innovation, and strengthen our positive impact,” said David von Laskowski, CEO of Greenfood Group & Picadeli.
“Greenfood has been transformed into a highly digital and innovative foodtech company that demonstrates how sustainability and profitability can go hand-in-hand. The transformation and growth achieved reflects the best of our operational expertise. Nordic Capital is proud to pass the torch to Fidelio and confident in Greenfood’s continued success,” said Robert Furuhjelm, Partner, Nordic Capital Advisors.
The terms of the transaction were not disclosed. Completion of the transaction is expected in H2 2025, and is subject to customary closing conditions, including relevant regulatory approvals.
The transaction has no impact on Greenfood’s senior secured sustainability-linked bond or its terms and conditions. The company’s capital structure, financial commitments and obligations remain unchanged.
Media contacts:
Greenfood
Magnus Holtinger Wallin
Head of Communications, Greenfood Group
magnus.wallin@greenfood.se
Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
katarina.janerud@nordiccapital.com
Fidelio
media@fideliocapital.com
