Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

Swedish consumer ecommerce giant BHG Group acquires online home decor firm Nordic Nest for €175M

Editorial team by Editorial team
December 14, 2020
in E-commerce, Merger, News
0
BHG

Image credit: Nordics

29
SHARES
LinkedInTwitterWhatsAppFacebook

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).

 - Partner content -
Cost of software - The Software house
The cost of building software
Marek Gajda, CTO of The Software House, shares his insights on building high-quality...Show More
Marek Gajda, CTO of The Software House, shares his insights on building high-quality software. Show Less
Read more

With this development, Nordic Nest CEO Bank Bergstrom and the management team will continue running the business from Kalmar, Sweden, and will retain ownership in the company. The company will form a new vertical within BHG and be consolidated into the home furnishing segment.

The sellers of Nordic Nest include local private investors from Sweden, including Stella EOC Capital, Nordstjernan, Nicklas Storakers, Paul Fischbein, and H&M’s Karl-Johan Persson via Philian Invest.

What does Nordic Nest do?

Founded in 2002 by Jorgen Bodmar, Nordic Nest offers home decoration design online, with a focus on tableware and other products. It

Since 2016, Nordic Nest’s growth rate (CAGR) was approx 50%, and EBITDA amounted to approx SEK120M (approx €11.7M). As for the 2020/21 fiscal year, the company claims to bring in SEK1B (approx €97.6M) in sales, produced through 10 web-shops, from a product portfolio of more than 220 premium brands and approx 30,000 unique products.

Martin Edblad, one of the founders of BHG and responsible for M&A said, ”We have followed Nordic Nest for a long time and are very impressed by how the company, under Bank Bergstrom and his team’s leadership, has developed, at the same time establishing a strong position in mainland Europe and select Asian countries. We have a common view of entrepreneurship and online leadership and very much look forward to working together, in the Nordics and in new geographies.”

Everything about BHG

BHG is a consumer e-commerce company in the Nordics and also present in most of Eastern and Central Europe. The company mainly operates in the home improvement space, meaning Do-It-Yourself (DIY) and Home furnishings.

With an ecosystem of online stores, supported by physical destinations and services, such as last-mile deliveries and installation, the company offers a range of well-known external and strong own brands, with over 800,000 unique products and encompassing a complete offering within DIY, leisure, furniture, and furnishings.

Besides, the Group also includes over 85 online sites – including sites such as bygghemma.se, trademax.se, and chilli.se – and over 70 showrooms. The company’s share is traded on Nasdaq Stockholm, under the ticker “BHG.”

close

Want to stay on top of the latest rounds, coolest tech and hottest startups?

Subscribe to our free, daily news blast and stay up-to-date!

Check your inbox or spam folder to confirm your subscription.

 - Partner content -
Hiring during COVID Intrinsic Search
Hiring SaaS sales executives
Check out the do's and don'ts while hiring SaaS sales executives
Check out the do's and don'ts while hiring SaaS sales executives Show Less
Read more
Tags: acquisitionecommercenews
Share2Tweet7SendShare12

Partner content | Work with us

Future of coding: CTOs discuss low-code versus custom code software development for their business

Why now is the perfect time to start hiring for 2021

SaaS sales in 2021: 9 predictions from an industry expert

Diversity in hiring for SaaS: the often overlooked topic of ageism

Boost your scale-up’s growth by outsourcing to these top Eastern European software development companies

Subscribe to our daily newsletter

Check your inbox or spam folder to confirm your subscription.

Breaking news from Amsterdam | Partner

Here’s why Just Eat Takeaway wants to remain listed in Amsterdam

CES 2021: Meet the 12 Amsterdam-based startups in the Dutch delegation

11 AI leaders from Amsterdam to watch in 2021

Amsterdam-based Media Distillery uses AI to understand what’s inside video; secures €3M

Advertisement

Trending

Adobe flash
News

Adobe pulls the plug on Flash, but here’s how you can still play some iconic Adobe Flash games

January 4, 2021
Amsterdam
Amsterdam

CES 2021: Meet the 12 Amsterdam-based startups in the Dutch delegation

January 13, 2021
3D Hubs
Amsterdam

Amsterdam-based 3D Hubs acquired by Protolabs for €272.1M; here’s what you need to know

January 19, 2021
  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy policy
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2020 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdam
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact

Silicon Canals 2014-2020 | Website: Bright Idiots

X

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info