IK to acquire 75% of Kid Interiør

Kid Interiør is Norway’s leading home textile retailer with a strong position in a market worthapproximately NOK 4bn (EUR 500m) per year. With a turnover of NOK 716m (EUR 90m) in 2004, Kid Interiør has demonstrated an annual average growth of27% since 1998. During the same period the number of wholly owned stores has grownfrom 25 to 90, with further store openings planned for 2005.

Kid Interiør is currently owned by Jul A. Gundersen and his son, J. Andrew Gundersen.Following the acquisition J.Andrew Gundersen will step down from his current position asCEO but will join the board of directors. The present Deputy CEO, Anne KarineStenshorne, will take over as CEO. Anne Karine has worked in the company since 1985 andhas been instrumental to the company’s successful development over the last 10 years.

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• Topics
• Buyouts
• Nordics
• Consumer