6 October 2010

Litorina’s portfolio company Cederroth is expanding in Poland through an acquisition of Dermika

The Cederroth group expands its operations in Poland through an acquisition of the company Dermika Sp. zo.o. The acquisition is seen as an important step to further strengthen the group’s position in Poland.

Cederroth AB acquires through its wholly-owned subsidiary Soraya S.A. the Polish cosmetics company Dermika Sp. zo.o. The acquisition is well in line with Cederroth’s strategic ambition to build a leading position within the face and skin care market in Poland.

Soraya S.A. acquires all of the shares of Dermika Sp. zo.o. Cederroth’s turnover in Poland will as a consequence of the acquisition increase by approximately 30%.

Dermika fits well into the Cederroth group and our future growth plans for Poland”, says Cederroth’s Group Chief Executive Officer Leif Wahlgren. “We are very pleased that we through this acquisition can continue to develop and further strengthen our already quite successful business in Poland. With the combination of Soraya and Dermika we will become the largest local supplier of face care products in the Polishmarket – a position we intend to consolidate further over the course of the next few years”.

“Our ambition is to continue developing the trademark Dermika within Cederroth Poland S.A.. This new entity will market two face and skin care assortments, under the trademarks Soraya and Dermika, in addition to other well-known Cederroth-products, like Family Fresh, Pharbio and Salvequick, on the Polish market”, says the head of Cederroth’s Eastern European division, Jaroslaw Cybulski.

For further information please contact:

Leif Wahlgren,
CEO the Cederroth Group
Telephone: +46 (0)8 590 96 300 Mobile: +46 (0)70 520 89 19.
E-mail: leif.wahlgren@cederroth.com

Jarek Cybulski,
Head of Eastern European division & managing director of Soraya S.A.
Telephone: +48 22 358 13 00 Mobile: +48 605 68 47 69
E-mail: jaroslaw.cybulski@cederroth.com

Lars Verneholt,
Partner Litorina
Telephone: +46 (0)8 545 181 110 Mobile: +46 (0)733 86 92 07
E-post: lars.verneholt@litorina.se

Cederroth is a consumer product company with a strong position in the categories personal care, household, health and wound care. Cederroth, headquartered in Sweden, has subsidiaries in Finland, Denmark, Norway, Poland and Spain. Several of the group’s products are sold also in many other countries through external distributors. The bulk of the group’s products are manufactured in its own plants in Sweden, Denmark, Poland and Spain. Cederroth currently has 850 employees and a turnover of SEK 2 billion (EUR 220 million). Read more at http://www.cederroth.com/.

Litorina, founded in 1998, is a private equity firm that focuses on acquiring and industrially developing small to medium-sized companies in the Nordic region with their leading executives. Litorina offers broad and deep expertise via its own organization as well as through its network of industrial advisors. Litorina Capital Advisors AB acts as an investment advisor to Litorina’s third fund, Litorina Kapital III LP, which is currently in an active investment phase. Litorina is backed by a number of venerable and reputable Swedish and international institutions who have together invested approximately SEK 2.3 billion in Litorina’s three funds. Read more at www.litorina.se.