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Private equity

N!CK'S closes funding of $7.3 million

By Johanna Strand 2020-06-02
Carl Bäcklund (N!CK'S), Alfred Karlsten (Pollux Capital) and Gustaf Brandberg (Gullspång Invest)
The company closes the $7.3 million investment round. The Brandbergs Gullspång Invest family and Alfred Karlsten's Pollux Capital as the largest investors.

Luthman Backlund Foods manufacturer of N!CK'S ice cream, bars and snacks closed a new investment round of $ 7.3 million in May. N!CK'S has recently launched its new ice cream in Sweden, Finland and the US (where it has grown from zero to over 3000 stores in just over six months) and plans to launch also in Germany and Ireland in 2020.

Like traditional ice cream but with 70% fewer calories

N!CK'S has also signed a long-term exclusivity agreement for the right to use a revolutionary plant-based fat ingredient from Epogee LLC. With this patented ingredient you can create the same taste, texture and mouthfeel as with traditional ice cream but with 70% fewer calories. "If you want an ice cream with a full, creamy, mouthfeel, fat is what you need. Epogey's plant-based fats provide the same experience as dairy fat, but without calories," explains N!CK'S Innovation Manager Erik Lennartsson.

We have a unique and world-leading product and the interest is huge in everyone we present it to

“Our long-term goal is to build N!CK'S into a world-leading brand of tasty and healthy ice creams and snacks. To succeed, we need partners and investors who share our long-term vision and who understand the complexity and science behind our business. We are therefore very pleased to have investors and partners such as Gullspång and Pollux Capital, ”says one of the founders, Carl Bäcklund.

"Glad to co-invest with the Brandberg family"

“I am incredibly grateful to have the opportunity to help the company further in its expansion, not only has the company created the best products on the market but also shows that there is a strong underlying profitability. I am also happy to co-invest with the Brandberg family (Gullspång Invest) for which I have great respect. ” says Alfred Karlsten, founder of Pollux Capital.

N!CK'S is planning another issue this summer with preference for Pollux and other existing shareholders to strengthen the marketing and distribution of ice cream, both in the US and Europe. “We have a unique and world-leading product and the interest is huge in everyone we present it to - both in Europe and the US. ”Says Carl Bäcklund.

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