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Bloomberg
Sweden’s biggest grocery chain, ICA Gruppen, plans to go private at a $12.5 billion valuation, the latest in a wave of dealmaking to sweep through the European supermarket industry.
ICA’s majority owner, comprising an association of 1,500 retailers, is looking to acquire all the shares it doesn’t already own, according to a statement. The group sees leaving the stock market as key to modernising the company amid increased competition from online grocers.
The buyout would be one of the largest consumer deals this year and follows the acquisition of British grocery chain Wm Morrison Supermarkets by buyout firm Clayton Dubilier & Rice for $9.5 billion.