Verdane exits WhiteAway

The firm's stake was acquired by a company owned by Anders Holch Povlsen, the Danish businessman who owns and is CEO of fashion retailer Bestseller.

Verdane originally acquired a 15-30% stake in WhiteAway and three other e-commerce companies from Swedish investor eEquity in September 2013. Capital for the transactions was drawn from Verdane Capital VIII, which closed on its SEK 2bn target in June. The sale of WhiteAway equity is the first exit for the fund.

Since Verdane's investment, the company has expanded its operations into Norway and Sweden, and reported revenue growth of more than 100% in the last year. The company's strategy was to strengthen its focus on core products, namely domestic appliances.

Company
Risskov-based WhiteAway, a retailer of domestic appliances, was founded in 2003. The company generates revenues of more than DKK 1bn (€130m).

People
Henrik Aspén is a partner at Verdane. John Gadsbøll is CEO of WhiteAway.

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• Topics
• Exits
• Nordics
• Consumer
• Denmark
• Verdane Capital Partners