Panduro, a Danish group of hobby and craft chains, is to be acquired by the Swedish company Lekolar, a supplier of equipment for schools. The acquisition target has four retail brands in five countries.
In Scandinavia and the Benelux
Lekolar, a supplier of everything from furniture to toys to schools, is set to purchase the Danish hobby and crafts retail group Panduro, founded in Denmark in 1954 by the eponymous family that still owns the group.
Panduro’s four different retail brands – Panduro, Pando by Panduro, Kreatima and Pipoos – achieve a turnover of a billion Swedish kronor (100 million euros) with its own shops and webshops in Belgium, Denmark, the Netherlands, Norway and Sweden. Pipoos has 23 stores in the Netherlands, 4 in Belgium and one online.
A lot in common
With the acquisition, Lekolar broadens its activities to the consumer market for the first time. “This is a strategically important step and we see great potential in the consumer market. Despite the different target groups, Lekolar and Panduro have a lot in common”, CEO David Persson explained. “Together we will create an unbeatable offer for all customer groups.”
Although Panduro becomes part of the Lekolar Group, the company will continue to be run as an independent unit, with current CEO Rickard Kemfors at the helm. The transaction is expected to be completed in the autumn, after review by the market authorities.