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Furniture Retailer Boconcept Acquired By 3i

UK: London based private equity group, 3i has acquired BoConcept for the sum of £166 million.

The upmarket Scandinavian furniture chain, BoConcept sells minimalist-concept beds, sofas and rugs at their 250 shops in Europe that includes 13 in UK. This deal encompasses the de-listing of BoConcept from the Nasdaq Copenhagen stock exchange.

A report from Telegraph recorded a £140 million turnover over the period of 12 months for the high-end retailer. BoConcept was founded by Jens AErthoj Jensen and Tage Molholm in 1952 as a furniture factory in Herning.

3i will be taking BoConcept private through an investment vehicle, Layout Bidco, using 3i funds and bank debt to buy the company shares. 3i plans to expand the retailer globally.

Boris Jawohl, one of the directors at 3i, said BoConcept was a “successful international brand with a proven track record in over 60 countries”.