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Litorina Kapital acquires LBC and GM-ITM — the Nordic region's largest player in furniture logistics
Litorina Kapital is acquiring the furniture logistics companies LBC Sweden and its Danish sister company GM-ITM
from DHL to form the Nordic region's leading furniture logistics group with annual sales of around SEK 500 million.
The new group, owned jointly by Litorina and its Swedish and Danish management, will have its registered office in
Tibro, the furniture capital of Sweden.
LBC serves as a hub for manufacturers, importers, retailers and exporters in the Nordic furniture industry, and has
been in business since the early 1940s. The LBC companies' services consist primarily of storage, order picking,
groupage and distribution of furniture within and to/from the Nordic region. Thanks to close collaboration with its
customers, LBC has grown both organically and through acquisitions, and now has a comprehensive Nordic distribution network.
"By listening to customers' wishes and focusing sharply on quality, LBC has generated good growth and profitability
in a consolidating sector," says Jörgen Ekberg, Senior Partner at Litorina Kapital. "We believe that LBC as an
independent player is well-equipped to continue growing in the furniture industry, and we will also be considering
expanding LBC's successful service concept, for instance through acquisitions."
"We're very pleased to have Litorina Kapital on board as a shareholder," says Hans Hjelmström, Managing Director
of LBC. "Litorina's expertise and network, combined with an independent position, provide a basis for continued
successful expansion and development of the business."
"It's great to have a stake in the new group," says John Riis, Managing Director of GM-ITM. "I feel strongly about our
business, and the prospects for continued development of the business are good. We're looking forward to achieving
this in the new structure."
PRESS RELEASE [Swedish]
Stockholm, 4 October 2005
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