MatHem i Sverige AB entered into an agreement to acquire Matse Holding AB from Axfood AB (OM:AXFO) for approximately SEK 690 million.

MatHem i Sverige AB entered into an agreement to acquire Matse Holding AB (publ) from Axfood AB (publ) (OM:AXFO) for approximately SEK 690 million on December 14, 2021. The purchase consideration will be paid in all stock, on a cash and debt-free basis. The consideration is a multiple of 1.5 times the Matse net sales in the last 12 months as of September 30, 2021.

The transaction is subject to antitrust and regulatory approvals. As of February 9, 2022 Swedish Competition Authority approved the deal. The deal is expected to be closed in the first quarter of 2022.

As of February 9, 2022, the deal is expected to be completed on March 1, 2022.