The year’s biggest e-commerce deal is completed.
Nordstjernan aquires online building and hardware store Bygghemma
This will also be family Ax:son Johnson’s first step into e-commerce.
Bygghemma’s turnover is 1.3 billion SEK. That Nordstjernan would be the buyer was not a surprise after they funded the purchase of Bygghemmas acquisition of Finnish Netrauta last month.
Nordstjernan president Tomas Billing tells Dagens Industri that it was an engagement phase to understand the company.
“We are big in Sweden and Finland, Denmark and Norway are good opportunities to grow. We will both focus on organic growth and acquisitions. We believe there is a great advantage of being the biggest in the market, ” says Tomas Billing to Dagens Industri.
Nordstjernan also opens up to buy more e-commerce companies.
“We like to buy e-commerce related to the companies we have and the products we understand, but we have no plans to become a new Kinnevik,” says Tomas Billing and excludes retail fashion.
The purchase price is not public, but is estimated at between 700 and 900 million SEK. Nordstjernan owns after the transaction a 88 percent stake. Bygghemma’s management owns the remaining 12 percent. Mikael Olander, remains as CEO.
Former major owner Patrik Hanell who sold his shares to Nordstjernan makes a hefty profit. The investment of 100 million SEK has multiplied in four years.