Union blasts Wallenberg interest in Vin & Sprit

The Swedish Food Workers Union has rejected moves by Wallenberg-owned venture capital firm EQT to acquire drinks maker Vin & Sprit. The union added that it would not rule out foreign ownership.

“We would be very sceptical towards an acquisition by a venture capital company,” said chairman Hans-Olof Nilsson.

EQT has been mentioned as one of a number of possible buyers in a forthcoming round of privatizations.

But Nilsson said he had negative experiences of the venture capital firm partly owned by the Wallenberg family.

After EQT bought Findus in 2000, it almost drove the Swedish Swedish food company into bankruptcy, according to Nilsson.

“We saw that and were very concerned. EQT didn’t grasp the market and it led to people being laid off,” he said.