EQT's internetstores acquires Addnature for SEK 230m

EQT, which owns a minority stake in internetstores, financed the acquisition through a new capital injection made via the Expansion Capital II fund.

Addnature's three founders and majority owners will reinvest the majority of their proceeds from the sale into the newly combined company. Minority shareholders will be bought out.

The transaction is expected to close during the second quarter of 2013.

EQT will merge the two companies in order to gain an expanded European presence in the online market for outdoor products and bicycles. Addnature's market presence, local know-how and customer base will be used to expand internetstores online bike sales in the Nordic region.

Meanwhile, Addnature will have access to internetstores' market presence and resources in the DACH region, as well as its online marketing expertise for a planned international expansion.

The combined business targets annual sales of around SEK 600m in 2013.

Company
Founded in 2000 and based in Stockholm, Addnature is a Swedish online outdoor products retailer with approximately 50,000 articles from nearly 350 brands.

Addnature has two physical stores integrated with the online business. Since 2012, Addnature has offered both an online and offline store for children.

Annual sales stand at around SEK 180m, of which 95% is generated in Sweden and 70% online. The company has 70 employees.

People
René Marius Köhler is the founder and CEO of internetstores Group. Mathias Hedström is co-founder and CEO of Addnature.

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• Topics
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• Now researching
• Expansion
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