Nordic private equity player Sentica has bought ice cream maker 3 Friends to accelerate the company’s business across Northern Europe.
3 Friends has grown since its 2012 founding to see its products in more than 5,000 stores across Sweden and Finland, producing over €10m of revenue.
Sentica partner Aitor de la Torre said “3 Friends has the potential to become an international success story.
“The products are truly high quality and loved by consumers, their manufacturing know-how lies strongly in-house and the company has deeply rooted values that will guide it well into the future.”
Company co-founder Ilkka Wikholm said, “Few Finnish food businesses expand abroad, one of the reasons likely being the lack of both time and financial resources.
“We would like to see how far our ice creams can still take us.”
Sentica currently manages more than €500m of funds aimed at backing businesses with a Finnish origin.
The firm closed its fifth fund on its €185m hard cap in 2017.
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