Budbee and Instabox join forces – Kinnevik largest shareholder in the new combined company Instabee
The two Swedish-founded last-mile delivery companies Budbee and Instabox, today announced their intention to join forces in the new combined company Instabee. The combination, subject to approval from the Swedish Competition Authority, would create a new group with the power to invest in, and push the boundaries of, consumer-centric and sustainable last-mile delivery services for the e-commerce sector in Europe. The two companies have, up until today, been led by their respective founders who will continue to play active roles. In the combined company, Fredrik Hamilton will step in as CEO and Alexis Priftis will become Chairman of the Board. The combined company is valued at SEK 18bn, and Kinnevik will be the largest shareholder with an ownership stake of 13 percent.
For further information, visit www.kinnevik-na.ltd or contact:
Torun Litzén, Director Investor Relations Phone +46 (0)70 762 00 50 Email press@kinnevik.com
Email: press@kinnevik.com
Kinnevik’s ambition is to be Europe’s leading listed growth investor, and we back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthtech, consumer services, foodtech and fintech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe, with a focus on the Nordics, and in the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.