Cibus Nordic Chooses Wolters Kluwer and Its CCH Tagetik Expert Solutions to Meet Current and Future Financial Consolidation, Regulatory and Reporting Needs

Wolters Kluwer has signed an agreement with Cibus Nordic to support them in their growth, strategic development, and their goal of moving to Nasdaq, the main stock exchange market in Stockholm, during 2021.

Cibus Nordic operates one of the Nordic’s largest and most strategic distribution networks for grocery trade and parcel services. The company’s strategy is to acquire, develop and manage high quality properties in the Nordics that have daily goods store chains as anchor tenants. The company currently owns 290 properties in the Nordic. The main tenants are Kesko, Tokmanni, Coop and S Group.

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With Cibus’ decision to switch to the Nasdaq exchange, it became a priority to find a Corporate Performance Management (CPM) solution that could support their aggressive growth strategy and increasing reporting needs. Cibus will utilize the CCH Tagetik platform for their legal consolidation, management, and financial reporting, including iXBRL.

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“We are honored Cibus selected the CCH Tagetik platform as the financial management solution to support their impressive growth strategy. With considerable time savings and increased transparency, Cibus’s finance team will be able to focus on tasks with higher added value and become real partners in the strategic growth strategy of their company,” said Jonas Qvarfordt, Sales Director, CCH Tagetik Nordic at Wolters Kluwer.

“Cibus is driven by a growth strategy through both organic growth and acquisitions. It is central to have a consolidation solution in place allowing the Finance team to maintain it and support growth. We are looking forward to the cooperation with CCH Tagetik,” said Pia-Lena Olofsson, CFO at Cibus Nordic Real Estate AB (publ).

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