DENMARK - Axcel acquires home furniture group

Axcel has acquired 60% of IDEmøbler, a Danish home furnishing chain, and IDdesign, an international chain of franchise home furnishing stores. The management retains the remaining 40%. The deal will comprise 32 of IDEmøbler’s 39 stores in Denmark. The remaining seven stores in Denmark, Faroe Island, Greenland and Iceland and IDdesign’s 15 stores abroad will have a close relationship with the chain throughout the partnerships agreement. The financial terms have not been disclosed.