Herkules sells Tirag and franchises to Kitch'n

Tirag owns the retail franchise concepts Tilbords and Rafens, both of which are Norwegian retailers of kitchenware and home design products.

Norway-based generalist GP Herkules invested in the company via its Herkules II vehicle in April 2007.

The fund held a final close in October 2006 on €446m.

Company
Established in 1987, Tirag is headquartered in and operates its warehouse out of Bergen. The retail chain consists of around 150 stores across Norway that are owned by independent franchisees.

It posted a turnover of NOK 302m in 2016.

People
Herkules – Sverre Flåskjer (partner).
Kitch'n – Wiggo Erichsen, Tore Thorstensen (owners).

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• Herkules Capital