BHG Group acquires IP Agency

BHG Group AB (publ) (“BHG”) is acquiring 51 percent of IP Agency Finland OY (“IP Agency”), a leading online company specialising in products for sports and leisure. The products are made up of proprietary brands that are sold mainly in Finland, Sweden, Belgium, the DACH region and the US. IP Agency’s annual sales growth for the past three years has exceeded 120 percent and sales during 2020 amounted to just over SEK 180 million with an EBITDA margin of over 25 percent.

BHG’s President and CEO, Adam Schatz, comments: “We are extremely impressed by how IP Agency has developed and are very much looking forward to assisting with the company’s continued journey, international expansion and the expansion of its product range. We are also very happy that IP Agency’s founders and management are continuing their journey of growth together with us under the leadership of Jouki Puurtinen.”

After conducting import trading activities for 20 years, primarily with imports from Asia, IP Agency was transformed into an online company in 2015. The business, with 18 employees (FTE), offers unique proprietary brands within sports and leisure online. The products are developed from the idea stage to finished products, purchased primarily from Asia, and sold mainly via four webstores as well as in online marketplaces and through major retail chains. Each month, the various webstores receive about 900,000 hits.

Martin Edblad, Head of Strategy and M&A, comments: “IP Agency’s development during the past three years is impressive to behold. By becoming a part of BHG, we believe that IP Agency will greatly benefit from the breadth of our sales channels and our expertise in a number of key areas. We are very much looking forward to working together with the founders and management to support the continued expansion of operations.”

CEO Jouki Puurtinen and the management of IP Agency will continue in their current roles. IP Agency will be consolidated in the DIY segment from 1 February 2021. 

For more information, please contact:
Adam Schatz, President and CEO of BHG Group
Tel: +46 (0)709 32 43 00. E-mail: 
adam.schatz@bhggroup.se

Jesper Flemme, CFO of BHG Group
Tel: +46 (0)720 80 25 69. E-mail: 
jesper.flemme@bhggroup.se

Johan Hähnel, Head of Investor Relations, BHG Group
Tel: +46 (0)70 605 63 34. E-mail: 
johan.hahnel@bhggroup.se

The information was submitted for publication, through the agency of the contact persons set out above, at 12:30 p.m. CET on 5 February 2021.

About BHG
BHG is the number 1 consumer e-commerce company in the Nordics. We’re also present in most of Eastern and Central Europe. Our strong position in these markets makes us the largest European pure-play within the Home Improvement space, meaning Do-It-Yourself and Home furnishings. With an ecosystem of online stores, supported by physical destinations and services, such as last-mile deliveries and installation, we offer the market’s leading range of well-known external and strong own brands, totalling close to 1 million unique products and encompassing a complete offering within DIY, leisure, furniture and furnishings.

The Group includes over 95 online sites — including sites like www.bygghemma.sewww.trademax.sewww.chilli.sewww.furniturebox.se and www.nordicnest.se — and over 70 showrooms. We are headquartered in Malmö, Sweden, with operations throughout Europe. Our share is traded on Nasdaq Stockholm, under the ticker “BHG.”

The BHG brands employ more than 2,000 people, working every day to create the ultimate online shopping experience by combining an unbeatable product range with smart technology, leading product expertise and a broad range of services.

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