The offer is 267.60 Norwegian kroner per share, representing a premium of 28.7 percent compared to Friday's closing price of 208 kroner. The market reacted immediately to the news, and MatvareExpressen's share rose by 25 percent during Monday morning trading on the Oslo Stock Exchange.
Details of the offer:
- Bid price: 267.60 NOK per share.
- Total valuation: Approximately 325 million NOK.
- Acceptance period: June 15 – June 29, 2026.
Coop has secured binding acceptances from key shareholders and management who collectively control 53.26 percent of the shares in MatvareExpressen. To complete the acquisition, an acceptance rate of at least 90 percent and approval from the Norwegian Competition Authority are required.
Strategic Focus on the B2B Market
MatvareExpressen is a dedicated B2B player that delivers groceries to, among others, kindergartens, schools, nursing homes and company canteens. The company has shown stable growth, with revenue increasing from approximately 100 million Norwegian kroner in 2021 to around 500 million in 2025.
For Coop Norge, the acquisition is a strategic step to expand sales to new customer groups.
Through our purchasing agreements, our expertise and national presence, we can help strengthen the company's competitiveness and accelerate the pace of growth, while Coop takes a position in e-commerce in the corporate market, says Philipp Engedal, CEO of Coop Norge.
Unanimous Board Recommends Sale
MatvareExpressen's board of directors unanimously recommends its shareholders to accept the offer. According to Chairman Svein Milford, the decision is the result of a longer strategic review.
The board asked itself whether the company's capital base and ownership structure were optimal for being able to take advantage of the opportunities we saw in the market. We are very pleased to have reached an agreement with Coop Norge that they will now take over ownership, and we believe this is a win-win situation, says Milford.
MatvareExpressen's CEO, Fredrik Engen, is also positive about the deal and highlights the effects it is expected to have on customers.
MatvareExpressen has been looking for a partner to accelerate the company's continued growth. For our customers, this means that they will experience an even better range, a better product and an easier everyday life, says Engen.