Green Team Group, which is one of Europe’s leading manufacturers and suppliers of Christmas tree seedlings, trees and decorations, will have access to expansion capital in the three-digit million range (DKK) with Adelis as its majority shareholder.
The company, which is headquartered in Denmark has plans to double its sales of Christmas trees by 2020 by strengthening relations with retailers and further expansion into Eastern Europe.
Both parties declined to disclose the purchase price.
Following the deal, chief commercial officer Hans Schultz has been appointed CEO while former CEO Peder Østbjerg will continue as a member of the board of directors and co-owner. Mads Vemmelund has been appointed CFO.
Green Team Group distributes its products through its own sales force directly to retail chains in Europe. The company has its own production of 3,600 hectares in Denmark, Poland, Scotland and France and recorded turnover of DKK 247 million (£26.6 million) and operating profit (EBIT) of DKK 152 million (£16.4 million).
Adelis is an investment company specialising in small and medium-sized Nordic companies.