Desenio acquires Posterstore and expects the new group to reach sales of SEK 1 billion.

Desenio, a Stockholm, Sweden-based operator of an ecommerce marketplace for posters and art prints, announced that it entered an acquisition agreement with also Stockholm-based Posterstore.

According to local media, it is a stock deal, as the new entity will have the Posterstore founders as shareholders, together with Desenio's founders Helena and Martin Blomqvist, CEO Fredrik Palm, chairman of the board Alexander Hars and angel investor Jakob Tolleryd, as well as the institutional investor  Verdane Capital.

Desenio was founded in 2009 by Helena and Martin Blomqvist and did SEK 607 million ($70M) in 2019. The company is controlled by private equity investor Verdane, which purchased half its shares back in 2017.

Poster Store was founded in 2014 by siblings Tobias and Oskar Renlund, brought in sales of SEK 90 million ($11M) in 2019 and expects to grow to about 400M in 2020.