Fredman Group has a new majority owner – Korona Invest will accelerate the company’s growth

The Finnish company Fredman Group Oy is seeking growth with the support of a new majority owner, private equity investor Korona Invest. Fredman will focus on its product and packaging operations, transferring the Chefstein service operations to CGI Finland Ltd.

Fredman Group Oy, a family business known for its kitchen products, such as baking paper, filter papers and cling film, signed an agreement on ownership restructuring with the Finnish private equity firm Korona Invest on 11 March 2024. Through the arrangement, a fund managed by Korona Invest will become the majority owner of Fredman. The completion of the transaction is subject to approval by the Finnish Competition and Consumer Authority.

“Fredman is an excellently managed, reputable company with significant growth potential. The company’s extensive industry experience, broad product portfolio, and international clientele are factors upon which we can build solid growth. We are also impressed by how strongly corporate responsibility is ingrained in the family business’s DNA. It is important to us that the key people in the company continue as significant owners, and together we will drive the company to the next growth goals,” says Niklas Wickström, Investment Director at Korona Invest.

”This is a meaningful change, and it comes with an emotional charge for us as a family. At the same time, it is a fantastic opportunity to implement the growth strategy that we have worked on for a long time. My brother Clas Fredman and I will continue as significant minority owners in the company. As a family business, we have doubled the company’s turnover since its inception, among other things. Over our 25‑year history, we have made significant investments in our own factory and its development and created the current service operations. I am very pleased that we found a suitable Finnish partner with whom we will embark on building a new era for Fredman,” says Peter Fredman, Owner-Entrepreneur and Chairman of the Board at the Fredman Group.

Fredman focuses on product and packaging operations and transfers the service operations to CGI

Fredman transfers its Chefstein service operations to CGI Finland Ltd, a company with long-term experience in the food services industry. The business operations transfer to CGI on 1 April 2024. The transaction will not affect existing customer agreements. Employees working with the solution will transition to CGI as existing employees.

In the future, Fredman will focus on creating value for its customers with responsible kitchen products and food packaging solutions.

”I envision that we will become the leading kitchen product manufacturer in the Nordic region, both in the consumer and professional kitchen sectors. The key factors in this position are our domestic factory in Rauma and customer-oriented product development, in which we will invest more strongly going forward,” says Per-Henrik Hagberg, CEO at Fredman.

Korona Invest

• Established in 2006, a Finnish private equity company
• Specialized in small and medium-sized growth companies
• Has raised a total capital of 235 million euros across four funds
• Has executed 37 initial investments and 26 exits

Fredman Group

• Turnover in 2023 was 27.7 million euros, with exports accounting for 14%
• Domestic production, factory in Rauma operating on 100% renewable energy
• Successful brands Elmu®kelmu, Comple®, Carita®