Lohilo Foods secures fresh funding of SEK 30M, aims to go public.
Lohilo Foods, a Växjö, Sweden-based food producer, announced getting into an investment agreement for raising the capital with SEK 30M ($3.3M).
Prior to this deal, Erik Selin had acquired shares in a secondary deal for approximately SEK 6.5 million directly from MF30 Holding AB, via his company ES Aktiehandel AB. In total, Erik Selin will acquire shares for approximately SEK 15 million in Lohilo Foods.
The deal was made as the company formally announced its intentions to apply to list the Company's shares on Nasdaq First North. Growth Market.
Lohilo Foods AB, founded as Alvestaglass AB in 2008 by Richard Hertvig and Dan Isaksson, started as an ice cream producer which has now become a supplier in the dry goods segment with products in functional food. The company's brand portfolio includes LOHILO, Alvestaglass, Järnaglass and distribution of Häagen-Dazs, NICK's and Bubbies.