A recently announced regulatory statement from the publicly-listed Fiskars Group on the Helsinki stock exchange confirmed that it has entered into an agreement with a Bahrain-based private equity firm, Investcorp, to acquire a Denmark-based company in its investment portfolio, Georg Jensen.
Georg Jensen is a recognised Danish design house, that specialises in silverware. Fiskars Group is a Finnish design-driven company with a focus on indoor and outdoor brands. Fiskars also owns the Royal Copenhagen brand that specialises in porcelain.
The sale of the company was for €155m, which comes as a debt-free company, and will see the 1,200 employees of Georg Jensen transfer to the Fiskars Group. Georg Jensen manufactures its own goods in Denmark (hollowware), Thailand (jewellery); and also outsources production of other branded goods to third-parties.
More information on the acquisition by Fiskars Group is here, and the sale from Investcorp here.