Investorcorp and Fiskars Group have acquired Georg Jensen Investment, parent company of Georg Jensen for $15.1 million.
Upon completion of the acquisition, Fiskars will assume the role of Georg Jensen’s new long-term owner and support its growth prospects. The acquisition holds strategic significance for both Fiskars and Georg Jensen. Georg Jensen will benefit from joining a Nordic group with a passion for Scandi design, a strong portfolio, and expertise in the home category. Meanwhile, the deal is set to enhance the synergy between Fiskars brands and accelerate Georg Jensen’s market presence and expansion plans.
Despite the macro economic climate recently, Georg Jensen has delivered substantial revenue growth of 16% to DKK 1.2 billion during the period of 2019 to 2022.
Flat to modest growth is expected for 2023, even in the face on constrained consumer spending. Similarly, Georg Jensen’s operating profit before special items increased 52% during the 2019 to 2022 period.
The transition to Fiskars’s ownership supports Georg Jensen’s pursuit of growth and excellence. Georg Jensen’s digital capabilities, optimised retail footprint and product portfolio enhancement have positioned it for a transformative expansion journey, and the commitment to rejuvenating brand icons and elevating customer engagement has been instrumental in shaping a platform for growth.
Mehul Tank, ceo of Georg Jensen, commented: “We are excited about the new opportunities this transition brings. The collaboration with Fiskars aligns seamlessly with our vision, and we are confident that it will propel Georg Jensen towards even greater heights.
“We extend our gratitude to our outgoing owner, Investcorp, whose support has been instrumental in steering us through challenges and opportunities alike. As we embark on this new chapter, we are ready to harness the synergies between Georg Jensen and Fiskars, capitalising on each entity’s strengths to unlock new avenues of growth.”