Nordic Capital Fund VII acquires leading Nordic home shopping companies – Ellos and Jotex
February 25 2013
Nordic Capital Fund VII ("Nordic Capital") to acquire Ellos and Jotex from Redcats, a wholly-owned subsidiary of the French company PPR. Ellos and Jotex are the Nordic region's leading home shopping companies and together form the region's largest marketplace for clothing and textiles. With Nordic Capital, the companies will have an owner with extensive retail experience who will continue to develop the existing businesses.
Ellos and Jotex are leading home shopping brands on the Nordic market, Ellos within fashion and home, and Jotex as the leading provider within home textile and decoration. The two companies are headquartered in Borås,Sweden.
"Home shopping is on the rise and this acquisition provides a unique opportunity to contribute to the future growth of Ellos and Jotex. Ellos is one of Sweden's best-known brands and, together with Jotex, the Nordic region's leading marketplace for clothing with a broad product range and 4.5 million customers. Nordic Capital looks forward to working with the management team to continue developing the company's range of goods and already strong e-commerce solution," says John Hedberg, Principal, NC Advisory AB, advisor to the Nordic Capital funds.
Nordic Capital Fund VII's current holdings include retail companies Tokmanni in Finland, Europris in Norway and Sport-Master in Denmark. Previous Nordic Capital fund holdings include the clothing company KappAhl.
"With Nordic Capital's expertise and solid experience in Nordic retail, the businesses will have ideal conditions to grow and develop. Today, 70 per cent of our orders are placed online. Consumers want to buy more and more products from home, and Ellos has a leading platform to meet this demand," says Hans Ohlsson, CEO of Ellos.
The acquisition is subject to approval by the competition authorities.
For additional information please contact:
Katarina Janerud, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital funds
Tel: +46 8 440 50 69
About Ellos and Jotex
Ellos and Jotex are leading home shopping actors on the Nordic market and part of Redcats, a subsidiary of French group PPR. As an authentic Scandinavian brand with a long tradition, Ellos is the #1 apparel and home brand in Sweden for online shopping. Its positioning is easy-to-wear contemporary fashion for the entire family. Most recently it has successfully developed a new brand for the sports/outdoor market, called Áhkká. Ellos' fashion products are available in all of the Nordic countries. Jotex is Scandinavia's leading home textile specialist. Founded in 1963, the Swedish brand has developed progressively in Finland and Norway. Jotex is now a leader in e-shopping within home textile and decoration. In 2011, its web site www.jotex.se received the 1st prize of the Web Service Awards in Sweden, in the "e-commerce" category.
About Nordic Capital
Nordic Capital private equity funds have invested in large and medium sized companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital creates value in its nvestments. Nordic Capital Fund VII has EUR 4,300 million in committed capital provided by international institutional investors. The fund is investing in companies in northern Europe and in selected investment opportunities internationally. Nordic Capital Fund VII is based in Jersey, Channel Islands and is advised by NC Advisory AB in Sweden, NC Advisory A/S in Denmark, NC Advisory Oy in Finland, NC Advisory AS in Norway, NC Advisory GmbH in Germany and NC Advisory UK LLP in the United Kingdom. Additional information about Nordic Capital is available at www.nordiccapital.com.