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Verdane acquires MM Sports
MM Sports is one of the largest providers of food supplements and gym wear in the Nordic countries, with six physical retail stores and a considerable online presence. Since its foundation in 2002, the company has grown substantially and has achieved a turnover of more than SEK 200 million. In 2014, the owner decided to sell a minority stake to strengthen the company’s funding, realise some of the built up value and to bring in a strategic partner for the company’s next development phase.
MM Sports was founded in 2002 by Olle Sparringsjö and has grown substantially under his leadership, without the backing of any external funding. The company’s broad product range includes both clothes and high quality food supplements. MM Sport focuses on affordability, quality, service and fast deliveries.
In 2014, Valentum was engaged to find a suitable partner for the Company’s future development. The choice fell on Verdane Capital who has long experience from e-commerce investments. MM Sports was the 25th acquisition that Verdane made in this sector. Consequently, Verdane was able to come up with several concrete suggestions to further strengthen MM Sports, including substantiated plans for international growth.
“MM sports is a well-managed company, that delivers high quality products and excellent customer service. We believe there’s great potential in food supplements as people increasingly want to live healthier lives and exercise more”, says Staffan Mörndal, partner at Verdane.
“When I met with Verdane, I quickly got confidence in them. Their co-workers are walking encyclopedias on how to succeed in developing online businesses. I am very happy to bring them in as partners in the company”, says Olle Sparringsjö, founder and CEO at MM Sports.