17 Sep 2023
Investcorp, a leading global alternative investment firm, today announced that it has agreed to sell its majority stake in Georg Jensen (or “the Company”), a timeless Danish design brand, to Fiskars Group (“Fiskars”).
Based in Copenhagen, Georg Jensen is a leading and globally recognised Danish design house founded in 1904 by the artistic silversmith of the same name. Georg Jensen has established a deep heritage in silver holloware, becoming renowned for quality craftsmanship and design of jewellery and home products. The Company has grown from its origins in Scandinavia to become a truly global brand, selling its iconic and timeless products through more than 90 of its own stores in eight countries, approximately 2,100 wholesale doors and its rapidly growing e-commerce platform.
Investcorp has worked closely with the Company to support the development and digitalisation of the business, embracing a more customer-centric design process and strengthening its management team. This has included implementing a more data-driven strategy, focusing on iconic designs while also investing in relevant product innovation, upgrading digital capabilities, expanding into new markets and adjacent categories, and realising operational efficiencies.
Jose Pfeifer, Head of Private Equity, Europe at Investcorp said: “Our investment in Georg Jensen demonstrates our ability to support premium brands in their efforts to grow into new geographies, develop new digital distribution and significantly professionalise and strengthen operations to cater for growth. We are delighted to have seen the business perform strongly during and after the Covid 19 pandemic and to have prepared it for the next chapter of its journey.”
Mehul Tank, CEO of Georg Jensen, added: “Investcorp has truly been a partner to Georg Jensen, helping us to reach new heights in the development of our long-term strategy. We are in a stronger position than ever for our next stage of growth and will continue to build on the work we’ve done as a management team. We believe Fiskars is the ideal partner to support us as we enter our next chapter of growth.”
Since 2012, Investcorp European Private Equity has invested more than €1.8 billion in companies across Europe. Investcorp has a long history of investing in and supporting luxury and premium consumer businesses, with notable investments including Gucci, Dainese, Tiffany, Breguet and Riva. The agreed sale of Georg Jensen follows successful previous investments in other Scandinavian headquartered companies, including Eficode, Sanos Group, POC, Cambio and Abax.
The transaction is expected to close in the fourth quarter of 2023 and is subject to customary regulatory and other closing conditions.