Bygghemma Group further strengthens its portfolio of proprietary brands through the acquisition of Hemfint.se
Bygghemma Group (“Bygghemma”) is acquiring 84 percent of Hemfint Kristianstad AB (“Hemfint.se”), a fast-growing online provider of doors, windows, bathroom products and leisure products in Sweden, with a leading portfolio of proprietary brands primarily in the value-for-money segment. In 2018, Hemfint.se had sales of nearly SEK 150 million and operating income (EBIT) of around SEK 3 million.
Martin Edblad, acting President and CEO of Bygghemma Group, comments: “We are pleased and proud to have further strengthened our position in the rapidly growing market for proprietary brands in the value-for-money segment in the Nordic region through the acquisition of Hemfint.se. The acquisition of Hemfint.se has allowed us to secure a provider with a leading assortment of affordable products, primarily in the categories of doors, windows and bathroom products, that has developed an impressive, robust position in these categories over the past few years.”
Hemfint.se has reported a compound annual growth rate (CAGR) of 52 percent over the past three years and had sales of nearly SEK 150 million and operating income (EBIT) of around SEK 3 million in 2018. Bygghemma is acquiring 84 percent of the shares in the company, paying a fixed purchase consideration for 51 percent of the company and a performance-based purchase consideration for an additional 33 percent over three years, with an option to acquire the remaining 16 percent within three to four years.
Carl Fenson, CEO of Hemfint.se, comments: “We are delighted to have become a part of Bygghemma Group. This is a major opportunity to further accelerate our development and growth, both by continuing to expand our leading assortment of proprietary branded products in the doors, windows and bathroom products value-for-money segments and by gaining access to Bygghemma Group’s leading Nordic platform.”
Bygghemma Group will continue to operate Hemfint.se as an independent entity. Carl Fenson will continue to serve as CEO and the operations will be conducted and expanded from Kristianstad, Sweden.
For more information, please contact:
Martin Edblad, acting President and CEO of Bygghemma Group
Telephone: +46 (0)73 424 68 51. E-mail: firstname.lastname@example.org
Johan Hähnel, Head of Investor Relations
Tel: +46 (0)70 605 63 34. E-mail: email@example.com
This information was submitted for publication, through the agency of the contact persons set out above, at 8:00 a.m. CET on 17 February 2020.
About Bygghemma Group
Bygghemma Group is the leading online supplier of products and services in DIY and Home Furnishings in Europe. We offer our customers a broad ecosystem of products and services and conduct operations in two segments: DIY and Home Furnishing. With over 500,000 products, we provide the broadest product range in the market at the most competitive prices, and strive to create the most attractive e-commerce environment by combining an unbeatable product range with smart technology, leading product expertise and a broad range of services. The Group includes over 50 online sites — including e-commerce stores like www.bygghemma.se, www.trademax.se, www.chilli.se and www.furniturebox.se — and over 80 showrooms. The Group has its head office in Malmö and is listed on Nasdaq Stockholm Mid Cap. In 2019, the Group had sales of SEK 6.2 million and more than 1,500 employees.