Riesling Ventures offers a 38% premium to take the Stockholm-listed wine group private at a Skr3.45bn valuation.
Viva Wine Group received a cash takeover bid of Skr38.5 ($3.96) per share from a consortium led by its CEO Emil Sallnäs. The offer values the company at approximately Skr3.45bn, representing a 38% premium over its 26 June closing price.
The group, listed on Nasdaq Stockholm, reported net sales growth of over 60% to Skr5.5bn since its 2021 debut on Nasdaq First North. Despite record first-quarter net sales, operating margins declined due to acquisitions with varying margin profiles, including Alpha Brands.
The consortium, including major shareholders Late Harvest Wine Holding 1971, Vin & Vind, and Legendum Capital, aims to return the company to private ownership amid shareholder base challenges.