Polaris Private Equity has acquired a majority stake in Det Danske Madhus. No financial terms were disclosed. Henrik Sørensen and Brian Sørensen, the current majority owners of Det Danske Madhus, will remain and retain a “substantial” stake in the company. Based in Denmark, Det Danske Madhus is a provider of meals to people who are partly or completely dependent on social services.
Polaris Private Equity has taken a majority shareholding interest in Det Danske Madhus, Denmark’s largest provider and distributor of homemade meals and food services to people in Denmark who are fully or partly dependent on social services. The current majority owners, Henrik Sørensen and Brian Sørensen, will stay on as the day-to-day management. They will also retain a substantial shareholding in Det Danske Madhus and continue to actively contribute to developing the company.
Under the “free choice scheme”, Det Danske Madhus delivers about 16,000 hot and cold meals to pensioners living in their own home, to nursing homes in 79 Danish municipalities and to three hospitals. Since 2004, Det Danske Madhus has been in successful public private collaboration with six municipalities and helped make the “free choice scheme” a success for both citizens and municipal authorities. The company has expanded substantially since being founded in 2003: it generated revenue of about DKK 400 million in 2013. With Polaris on board as a shareholder, Det Danske Madhus will continue to develop in the growing Danish market, intending to grow its service offering and eventually build a platform for expansion into neighbouring markets.
From its head office in Thisted in northern Jutland, Det Danske Madhus has some 300 full-time employees and food service centres in the cities of Silkeborg, Varde, Vejle, Aarhus, Helsingør and Køge, three of them operated in a private public collaboration with a local municipality. The food provided is distributed to Det Danske Madhus customers by the company’s wholly owned subsidiary Multi Trans, Denmark’s oldest and largest transport service delivering prepared meals to private individuals.
”Det Danske Madhus has achieved a unique position as a respected and trusted partner to a number of municipalities and has built a strong portfolio of satisfied customers. It is a professional and well-run business providing a high level of quality and service based on efficient catering facilities and a strong logistics organisation. This combination has produced good results, and we look forward to helping the company grow and develop going forward,” said Henrik Bonnerup, partner of Polaris.