CapMan - Company Announcement

CapMan sells Cardinal Foods, impact on CapMan Group's results for 2013 is €1.9 million

CapMan Plc Stock Exchange release - 3 April 2013 at 8:45 a.m. EEST

CapMan sells Cardinal Foods, impact on CapMan Group's results for 2013 is €1.9
million

Funds managed by CapMan and other owners of Cardinal Foods have signed an
agreement to sell Cardinal Foods AS to a company formed by Swedish agricultural
cooperative Lantmännen Group and private equity firm CapVest. Funds managed by
CapMan own approx. 49% of Cardinal Foods' stock. The impact of the transaction
on CapMan Group's result for 2013 is approx. €1.9 million from carried interest
income and fair value changes from own fund investments. The transaction
contributes €3.7 million in cash flow to CapMan Group. The transaction is
subject to final approval by the competition authorities and is expected to
close by 1 July 2013. The investment in Cardinal Foods has been excellent for
investors in CapMan's funds.

CapMan originally invested in Cardinal Foods in 2005 through the acquisition of
two independent poultry and egg production companies. Since then, Cardinal Foods
has experienced significant organic growth, while at the same time acquiring and
integrating several complementary businesses. Today, Cardinal Foods is the
second largest poultry product and egg producer in Norway, with sales in excess
of NOK 1.3 billion and approx. 300 employees. Prior to the sale to Lantmännen
and CapVest, Cardinal Foods' subsidiary Norsk Kylling was sold to Rema
Industrier in 2011."Cardinal Foods has developed according to our expectations and the investment
has provided excellent returns for our fund investors. We are proud of the
success of the company during our ownership. Cardinal Foods has established a
solid market position through both organic growth and market consolidation. We
have further improved the cost structure of the operations, from which the new
owners can commence their value creation plans," says Kai Jordahl, Senior
Partner and Head of CapMan Buyout."Under the ownership of CapMan, Cardinal Foods has become the leading player
within white meat and eggs in the Norwegian market. The successful partnership
with CapMan has provided strong support to the company, and allowed us to
develop through organic growth, acquisitions, and with significant operational
improvements. We have an excellent position for further development and are
happy to have Lantmännen and CapVest as new owners to assist us in a next
phase", says Torfinn Prytz Higdem, CEO of Cardinal Foods.

For more information, please contact:
Kai Jordahl, Senior Partner and Head of CapMan Buyout, tel +47 90 98 22 71
Niko Haavisto, CEO and CFO, CapMan Plc, tel. +358 207 207 583 or
+358 50 465 4125
Torfinn Prytz Higdem, CEO Cardinal Foods AS, tel: +47 99 04 48 76

CAPMAN PLC

Linda Tierala
Manager, Communications and IR



DISTRIBUTION

NASDAQ OMX Helsinki
Central media
www.capman.com



CapMan www.capman.com
CapMan Group is one of the leading private equity firms in the Nordic countries
and Russia, with assets under management of approximately €3.1 billion. CapMan
has five investment partnerships - CapMan Buyout, CapMan Russia, CapMan Credit,
CapMan Public Market, and CapMan Real Estate - each of which has its own
dedicated investment team and funds. Altogether, CapMan employs 110 people in
Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in
1989 and has been listed on the Helsinki Stock Exchange since 2001.

Cardinal Foods AS www.cardinalfoods.no
Cardinal Foods is a leading supplier of white meat and eggs and has a
significant position in the Norwegian market. The company's strategy is to
continue to develop the most efficient production facilities for poultry and
eggs in Norway, combined with innovative and user-friendly, top quality
products. The company controls the entire value chain, from farmer to consumer.
Slaughtering, cutting and processing of white meat are carried out at Jæren and
Stokke in Vestfold in efficient and full-scale production plants. Egg processing
takes place in Norway's most modern facilities for egg processing, located in
Ski.


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