Nordika invests €44m in Swedish grocery retail

Pan-Nordic investment firm Nordika has invested an additional SEK 500 mln (€44 mln) in Vendus Sweden, a real estate company focused on grocery retail properties across Sweden.

Shopping carts - Vendus

This investment will support Vendus's ongoing growth strategy within the robust and appealing food retail sector.

Vendus currently manages a portfolio of 73 properties, valued at SEK 3.5 bn (€307 mln). The company generates stable and predictable rental income primarily from leading grocery retailers.

Since Nordika's initial investment in late 2024, Vendus has transformed into a more institutional and operationally efficient real estate firm, with improved corporate governance. During this period, the company acquired high-quality grocery assets worth nearly SEK 1.5 bn (€132 mln) and successfully refinanced all preference shares with senior debt, while also significantly reducing senior debt margins.

The new capital will allow Vendus to pursue attractive acquisition opportunities and optimise its capital structure for continued expansion. The company aims to increase its property value to at least SEK 6-8 billion (€527-703 mln) within the next three years.

In addition to Nordika's directed issue of warrants, Vendus also raised SEK 132 mln ( €12 mln) through a rights issue subscribed by existing investors. Following the share issuance, Nordika now holds a 53% stake in Vendus.

Roschier, PwC, and Newsec advised Nordika on the transaction.