Better Collective has completed the acquisition of Ribacka Group AB for a fee of €30 million. A Sweden-headquartered firm, Ribacka Group owns a strong network of Swedish sports betting and casino marketing platforms, including www.speltips.se.
The company will stay headquartered in Stockholm under the name Better Collective Sweden. The two former owners of Ribacka Group, brothers Jesper and Jens Ribacka, will continue as local CEO and board member respectively for the newly-created Better Collective Sweden brand. They will work closely together with the Better Collective headquarters in Denmark, “to ensure continuity and that the strengths of both organisations are utilised in the best possible way”.
Jesper Søgaard, CEO of Better Collective, said: “We are truly excited about expanding our position in the Swedish market ahead of the coming regulation. With a strong network of brands in the Swedish market, including speltips.se, Ribacka Group is a great fit for Better Collective.
“We consider Sweden to be one of the most interesting markets for online sports betting in Europe, as we believe a change in market dynamics will expand an already growing market. With the combination of market growth, the successful operation run by Ribacka, and the addition of new talent and visible synergies, we are confident that this acquisition is a strong move for us in Sweden.”
Jesper Ribacka, Founder and CEO of Ribacka Group, added: “On behalf of myself and my co-founder of Ribacka Group, I am happy to announce our acquisition by Better Collective. Since 2012, we have worked very hard to build strong brands in the Swedish market and, most importantly, a strong team to help us become a success.
“I trust this new setup will bring us even further, aligning with the core values of transparency and user empowerment that are found at Better Collective.”