BHG Group’s subsidiary Nordic Nest acquires Svenssons i Lammhult
BHG Group AB’s (publ) (“BHG”) wholly owned subsidiary Nordic Nest is acquiring 100% of Svenssons i Lammhult, a leading Swedish retail chain offering furniture and home furnishings from more than 170 well-known quality brands and over 25,000 products. These brands primarily comprise design classics and a carefully selected home furnishings range. The company’s online sales have increased significantly in recent years and currently account for half of its total sales. In addition, the company has five stores in Stockholm, Malmö, Gothenburg and Lammhult. The acquisition is a bolt-on acquisition to Nordic Nest, which was acquired by BHG in December 2020, and will strengthen the company’s position in the premium brand segment.
BHG’s President and CEO, Adam Schatz, comments: “With a strong, entrepreneurial culture with its roots in Sweden’s Småland region, Svenssons i Lammhult has successfully developed its online presence in recent years so that it now matches the level of the company’s store network. This acquisition will give us access to a fantastic destination brand in the form of Svenssons i Lammhult as well as a large number of new premium brands. We see this as a natural step in the development of Nordic Nest that will be mutually beneficial to the two companies.”
Svenssons i Lammhult’s sales in 2020 amounted to approximately SEK 260 million. The company’s range, which includes over 170 premium brands and 25,000 products mainly focused on furniture, complements the 220 premium brands and approximately 30,000 unique products already sold via Nordic Nest’s ten webstores in ten languages, whose range has primarily focused on table linens, tableware and decorative items.
Bank Bergström, CEO of Nordic Nest, comments: “Our companies match each other perfectly. Svenssons i Lammhult carries some of Sweden’s strongest brands in its category. Thanks to our leading online position, we will be able to bring products from some of the best designers of our time to even more customers. This is a range that stands the test of time, perhaps even for several generations. We are also confident that Svenssons’ stores, which hold a strong position in their local markets, will benefit from being part of Nordic Nest. Since both our companies are based in Småland, we also have similar corporate cultures and will be unrivalled in terms of our competitiveness.”
Anders Rundgren, CEO of Svenssons i Lammhult, comments: “We are pleased to have an owner such as Nordic Nest, which has a strong position in e-commerce. Overall, this will provide Svenssons with favourable conditions to continue our journey of growth online and to develop our offering in partnership with Nordic Nest, both online and in our stores.”
Svenssons i Lammhult has 68 employees. Nordic Nest operates as an independent vertical within BHG and has been consolidated in the Home Furnishing segment since 1 January 2021.
The transaction is contingent on the customary regulatory approval.
For more information, please contact:
Adam Schatz, President and CEO of BHG Group
Tel: +46 (0)709 32 43 00. E-mail: email@example.com
Johan Hähnel, Head of Investor Relations, BHG Group
Tel: +46 (0)70 605 63 34. E-mail: firstname.lastname@example.org
The information was submitted for publication, through the agency of the contact persons set out above, on 19 March 2021.
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 online 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 100 online sites – including sites like www.bygghemma.se, www.trademax.se, www.chilli.se, www.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.