Clas Ohlson To Invest 27 MSEK In Swedish Online Grocer, MatHem

The collaboration with MatHem in Sweden is an important part of Clas Ohlson's strategy to establish a unique position in terms of availability and convenience for our customers. Clas Ohlson currently owns 8.1% of the MatHem company, that today announced a funding round in which Clas Ohlson commits to invest 27 MSEK.

Clas Ohlson's investment in MatHem in December 2017 was the launchpad for an important and successful strategic collaboration. Today, MatHem is the leading independent pure-play online grocery retailer in Sweden and offers a broad range of grocery products and related domestic consumables. Food is a significant driving force for e-commerce logistics and there is a clear business logic and customer benefit in offering parts of Clas Ohlson's product range via additional, supplementary digital platforms.

“Through our collaboration with MatHem in Sweden and Kolonial in Norway, we have established a unique position – these digital channels provide us with more ways to simplify everyday life for both new and existing customers through convenient deliveries to their front door. This means increased customer benefit while strengthening our platform for future profitable growth”, says Lotta Lyrå, President and CEO of Clas Ohlson.

“We are pleased to note that both collaborations are developing positively. Today, every fifth shopping bag from MatHem and every tenth shopping bag from Kolonial contains a product from Clas Ohlson. We also see a potential in expanding our daily and seasonal product range as we have successfully broadened our offering with relevant durable and capital goods during the important Christmas trading period,” adds Lotta Lyrå.

In the funding round of a total of approximately 500 MSEK in MatHem in Sverige AB, Kinnevik will invest 150 MSEK and the pension company AMF will participate with 280 MSEK, and will therefore become the third largest owner in MatHem with a 10% ownership stake.

Clas Ohlson's investment, in order to maintain its rights in accordance with the shareholders' agreement, amounts to SEK 27 million and will be reported in the fourth quarter of 2019/20. Clas Ohlson's ownership stake after the funding round amounts to 7.7%, which makes Clas Ohlson the fifth largest owner of MatHem.

Source : Clas Ohlson

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.