Hakon Invest has signed an agreement to acquire a 50% stake in the online retailer inkClub, which sells ink cartridges on the Internet. Hakon Invest's investment amounts to SEK 428 M.
inkClub is a pure-play online retailer that sells ink cartridges and other printer consumables via the Internet. The company, which was founded by entrepreneur Lennart Nyberg in 2000, has seen rapid growth and posted a profit since the start. inkClub currently have some 1 million active costumers in 14 European countries and in 2006 reported sales of SEK 344 M and an operating profit of SEK 41 M. This places inkClub among the leading global players in online sales of ink cartridges.
Claes-Göran Sylvén, President of Hakon Invest: "Lennart Nyberg, with initially very modest resources, has succeeded in building up a highly successful and professional business in just a few years. The Internet is an attractive sales channel and we see good potential for expansion for inkClub."
Online shopping is becoming an increasingly important retail sales channel. The investment in inkClub means that Hakon Invest is raising its exposure towards this growing segment while broadening its retail trading expertise at the same time. With a strong financial position inkClub is well equipped for continued growth.
inkClub's success has been recognized with a number of awards in recent years, including an Export Hermes and World Class diploma last year from the Stockholm Chamber of Commerce for the most successful export company. In 2005, the newspaper Dagens Industri chose inkClub's founder Lennart Nyberg as Businessman of the Year.
Lennart Nyberg, founder of inkClub: "With Hakon Invest we are acquiring a professional owner with a thorough knowledge of retailing. We see major opportunities to further develop InkClub and capture a larger market share in partnership with Hakon Invest. The ink cartridge is a perfect product for the Internet."
Hakon Invest's investment in inkClub will be made through acquisition of existing shares for SEK 428 M in cash. Hakon Invest will thus acquire 50% of the capital and voting rights in inkClub. Following the sale, the principal owner Lennart Nyberg and his family will still own 45% of the shares with other shareholders owing 5%.
The deal is subject to the usual terms and conditions and approval from the authorities. The deal and acquisition analysis are planned to be completed during the third quarter of 2007.
For further information, please contact:
Hakon Invest, President & CEO Claes-Göran Sylvén tel +46 8 55 33 99 64
Hakon Invest, IR Manager Pernilla Linger tel +46 8 55 33 99 55
inkClub, founder Lennart Nyberg tel +46 708 24 39 11
inkClub, President & CEO Fredrik Brandt tel +46 708 24 39 21
Hakon Invest, which is listed on the Nordic Exchange Large Cap, conducts active and long-term investment operations in retail-oriented companies in the Nordic region. Hakon Invest owns 40% of ICA AB, the Nordic region's leading retail company with focus on food. In addition have holdings in Forma Publishing Group, Kjell & Company, Hemma and Cervera. Further information about Hakon Invest is available at www.hakoninvest.se.