Jordanes Announces Management Buyout

18 Nov 2024 11:21 CET

Oslo, 18 November 2024 — Jordanes Investments AS (“Jordanes Investments”) has
been informed by Jordanes ASA that Jordanes Holdco2 AS (the “Company”), a
company owned by Jordanes Co-founders Jan Bodd and Stig Sunde, along with key
employees, have entered into agreements to acquire approximately 98.8% of the
outstanding shares in Jordanes ASA, and expect to agree upon an acquisition of
the remaining minority post shortly. Carlyle’s Global Credit platform will
provide a NOK 2,750 million debt financing package to the Company, which will be
used to finance the management buyout and refinancing of the Jordanes group (the
“Transaction”).

The debt financing package will be used to, among other purposes, repay and
redeem the unsecured bonds (ISIN NO0012433301) issued by Jordanes Investments in
February 2025, amounting to NOK 1,200 million, and to fund the cash portion of
the share purchases as part of the contemplated Transaction.

Completion of the Transaction is subject to customary closing conditions, with
the closing anticipated in December 2024. Additional information regarding the
repayment and redemption of the bonds issued by Jordanes Investments will be
provided in due course.

Jordanes’ co-founders Jan Bodd and Stig Sunde commented:
“Our ambition to build a leading Scandinavian brand house of iconic consumer
brands, serving consumer everyday needs across all channels and consumer
occasions, has remained unchanged since we founded our company 17 years ago. The
contemplated transaction will allow us to accelerate our pursuit with more
resources and stronger support, guided by the same ambition and our commitment
captured in our motto “proud to serve our kids”.

About Jordanes
Jordanes was founded in 2007 by Jan Bodd and Stig Sunde and is today an
established Scandinavian brand house focusing on everyday products and services.
Jordanes owns and operates a diverse portfolio of iconic brands, including
Synnøve, Sørlandschips, Peppes Pizza, Bodylab, and Backstube. In 2023, the Group
had Revenue of NOK 6,466 million, approximately 2,700 employees, and 9 factories
across Scandinavia.

For further information, please contact:
Nikolai Steinfjell, CFO
Telephone: +47 975 44 712
E-mail: nikolai.steinfjell@jordanes.no

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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