Aarke gets acquired by Altor Funds.

Aarke, a Stockholm, Sweden-based D2C producer of home appliances, announced that it entered into an agreement for selling a major part of the equity in the company.

The deal has financial details undisclosed and was made with a local private equity company from Sweden, Altor Funds. Aarke's founders will remain significant owners and continue in their new operational roles as CEO and CPO.

In addition to Altor's controlling the company, a new Board will also take office, Pernilla Ekman, former CEO of Zound Industries will become Chairman of the Board and Stefan Ytterborn, founder of POC and Cake, will become member of the Board.

Aarke, founded in 2016 by Jonas Groth (CEO) and Carl Ljungh, built a premium home carbonation business, selling premium home carbonation machines with a sleek, minimalistic Scandinavian industrial design and related products via a global distributor network and own webshop.

The company has grown rapidly with sales reaching above SEK 200 million ($24M) in 2020.