Swedish consumer e-commerce giant BHG Group has acquired 97.6% of Scandinavian design e-tailer Nordic Nest. Through the acquisition, BHG claims to strengthen its position as the largest online player within home furnishings in the Nordics. It also wants to create a platform for an extended product range and growth in additional expansion.
The transaction
The acquisition deal was made in cash for SEK1.6B (approx €156M) and values Nordic Nest at SEK1.8B (approx €175.6M).