Nordic Nest was acquired by BHG for $200 million

Nordic Nest, a Kalmar, Sweden-based retailer of home furnishings, announced that it was acquired by the BHG Group.

The deal was made in cash for SEK 1.6 billion ($190M), corresponding to 97.6% of the company at a valuation of SEK 1.8 billion ($210M). CEO Bank Bergström and the management team of Nordic Nest will continue running the business from Kalmar, Sweden and will retain ownership in the company. Nordic Nest will form a new vertical within BHG and be consolidated into the Home furnishing segment

Nordic Nest, founded in 2002 as Designonline by Jörgen Bödmar, offers Scandinavian home decoration design online, with a focus on tableware and other products. The company is expected to bring in SEK 1bn in sales for he 2020/21 fiscal year, produced by via 10 web shops, in 10 different languages and from a product portfolio of more than 220 premium brands and approximately 30 000 unique products.

Nordic Nest owners include local private investors from Sweden, including Stella EOC Capital, Nordstjernan, Nicklas Storåkers, Paul Fischbein and H&M's Karl-Johan Persson via Philian Invest AB.