Danish online furniture brand Sofacompany has a new owner: it is now part of Lars Larsen Group, which also owns Jysk and Bolia. The company continues to sail its own course, however.
Growing stronger digitally
Sofacompany, which was founded in 2012 by couple Catherine and Christian Rudolph, was previously owned by investment fund Procuritas. Since 2017, the company has managed to increase its turnover by more than half to 73 million euros and to triple its EBITDA to million euros. This success is partly due to direct sales from factory to customer, without intermediaries. The strong online growth is also what sparked the interest of acquirer Lars Larsen Group.
"The acquisition of Sofacompany is part of our strategy to become even stronger digitally," says Jan Bøgh, the CEO of JYSK, who will also become Chairman of the Board of Sofacompany. "The objective is to achieve the same market share with our online retail channels as we do with the physical stores and showrooms. Sofacompany has enormous potential there because online sales of furniture have increased significantly since the crisis."
Bøgh stresses that it is not the intention to make Sofacompany part of Jysk: the retailer will be run as an independent company, just like the other brands within the group. The management will remain in place and the company will be given the means to grow even further.
Earlier this week it was announced that Lars Larsen Group has also acquired Swedish sleep specialist Sängjätten from Beter Bed Holding.