CAPITAL FUND TO CREATE NORDIC FURNITURE GIANT

The capital fund Axcel has acquired the furniture giant Idémøbler. Now the chain is going to be spread to the entire Scandinavia via new acquisitions as well as organic growth.

The capital fund Axcel has acquired the furniture giant Idémøbler. Now the chain is going to be spread to the entire Scandinavia via new acquisitions as well as organic growth.

This means that Idémøbler will go from being a voluntary chain to a capital chain with Axcel holding 60 per cent of the ownership whereas the original owners via reinvestment will have 40 per cent. And with the new financial strength the way is paved for an offensive on the Scandinavian furniture market.

“Idémøbler is a very strong brand – maybe the strongest in Denmark if disregarding Ikea. Based on this we have an ambition about bringing Idémøbler to Scandinavia where we already have our eyes on similar independent chains to acquire,” says general manager Christian Frigast from Axcel to Børsen Business Daily.

Idémøbler is Denmark’s second-best furniture chain today with a market share of approximately 15 per cent. The chain consists of 39 furniture shops with approximately 800 employees and expects a turnover of DKK 1.3 billion in 2007.

And it is a very strong furniture market that Axcel is now entering. Last year the Danish furniture market was at approximately DKK 10 billion – an increase of 11 per cent compared with the previous year, shows an analysis from Retail Institute Scandinavia.