IK Investment Partners (“IK”) has signed an agreement to sell Europris, the leading Norwegian integrated mixed discount retailer focused on non-food retail, to Nordic Capital. Financial terms of the transaction were not disclosed.
IK acquired Europris in September 2004, at which time the Company consisted of a wholesale business, a penny store concept and a franchise operation with a network of 136 stores across Norway. During its ownership, IK has successfully transformed Europris into an integrated wholesale/retail business and doubled chain revenues close to EUR 500 million in 2011.

IK has, together with management, also implemented a number of strategic initiatives and operational improvements to strengthen Europris’s market position and improve profitability. These initiatives include integration of the retail and wholesale business, a significant increase in direct sourcing and strengthening of procurement capabilities, restructuring of the supply chain in addition to a...