Kistefos portfolio company 1881 Group AS invested in Prisguiden in 2017 and acquired a 51 % ownership stake from Amedia. Since 1881 Group’s acquisition of Prisguiden in 2017, Prisguiden’s revenues has tripled from 13 MNOK in 2017 to more than 40 MNOK in 2021. EBITDA has grown from 2 MNOK I 2017 to about 20 MNOK in 2021. Prisguiden is used by 1 million consumers every month and compare information from more than 500 physical and online stores.
Due to Prisguiden’s rapidly growing business and with a strong market position in Norway, PriceRunner and 1881 Group in September 2021 entered into an agreement where PriceRunner acquired Prisguiden for a total consideration of more than 450 MNOK, of which 230 MNOK allotted to 1881 Group through its 51 % ownership stake. This represents a multiple of cost for 1881 Group of about 100x.
PriceRunner is the leading comparison shopping service in the Nordic region and offers comparison services for consumer products in Sweden, Denmark and the United Kingdom. Shortly after acquiring Prisguiden, PriceRunner entered into an agreement to be acquired by Klarna. This transaction is currently awaiting approval by regulatory authorities.