Dansk Cater in partnership with Altor

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The leading Danish food service company Dansk Cater A/S and the Nordic private equity fund Altor have today entered into a partnership with the objective of continuing the positive development of the Dansk Cater Group. The new group will be owned by a newly established Danish company, Euro Cater A/S, of which the Management of Dansk Cater and Altor each hold 50%.

Dansk Cater is today the parent company of a group of autonomous companies that distribute frozen and chilled food as well as groceries and canned goods to Danish professional kitchens in the private and public sectors. The Dansk Cater Group has 830 employees and recorded revenue of approximately DKK 2,700 million in 2005/2006.

”Since the establishment of Jysk Cater in 1986, Dansk Cater has played an active role in the consolidation of the Danish food service market and is now the leading player in Denmark. The decision to enter into a partnership with Altor is based on a wish to continue participating and acting in a consolidation, nationally and internationally”, says Leon Sørensen, CEO of Dansk Cater.

A 50% partnership with Altor means that the Dansk Cater philosophy will continue to drive and develop the business, thus ensuring continuity for employees, customers and suppliers, while securing resources for future development and growth.

”An increasing share of our meals is prepared and consumed outside our homes. Therefore, we see continued good growth potential in the industry”, Mr Sørensen continues.

”Dansk Cater is, even in an international perspective, one of the most efficient food service companies offering a quality and service level that ensures that we have the most satisfied customers”, says Stefan Linder, Partner of Altor.

”The successful business model makes Dansk Cater a natural platform for continued consolidation and growth, both in Denmark and internationally, which matches Altor’s investment strategy very well. We are looking forward to continue to develop Dansk Cater together with the management team,” Mr Linder adds.

About Dansk Cater:
Dansk Cater A/S is the holding company of a number of autonomous companies that distribute frozen and chilled food as well as groceries and canned goods to Danish professional kitchens. The foundation of the existing Dansk Cater was established in 1986, but the company’s roots date back to the late 1950s. Dansk Cater has 16 subsidiaries, of which one in Poland, that are different with respect to type of distribution and product range, but share the common goal of providing a high level of service and delivering high-quality products. Furthermore, a key success parameter has been the local knowledge as well as the close relationship with the customers. For further information on Dansk Cater, please visit www.cater.dk

About Altor
The Altor funds (Altor) are private equity funds comprising the Altor 2003 Fund with EUR 650 million in capital and Altor Fund II with EUR 1,150 million in capital. It is advised by Altor Equity Partners with offices in Oslo and Stockholm. Altor focuses on Nordic investments with enterprise value ranging from SEK 500 million to SEK 4 billion with value creation opportunities based on growth, strategic re-positioning and operational improvements. Altor Equity Partners has 25 employees, highly qualified and experienced in supporting companies through the change process. Since its inception, Altor investments include Aco Hud (exited in 2004), Lindorff, Dynapac, Ability Group ASA (listed on Oslo Stock Exchange July 2006), Relacom, Ferrosan, Aalborg Industries, Meyn, PaloDEx, Navico (Simrad and Lowrance), Byggmax, Nimbus Boats, Scandpower, PIAB and Dustin.