Royal Design was acquired by Egmont.

Royal Design, a Stockholm, Sweden-based interior design ecommerce business, announced that it entered into an agreement for being acquired by the Danish group Egmont.

The financial details of the transaction remained undisclosed. Egmont Publishing will acquire all existing shares and assume full ownership of Royal Design Group AB. Harald Ennen, incumbent Chairman of the Board, will remain with the company.

Private equity firms Verdane, which has been majority owner since 2017, and eEquity, co-owner since 2012, now hand over the ownership responsibility to Egmont. To ensure a smooth transition, Verdane Principal Daniel Ahlstrand will remain as member of the board through 2021.

Royal Design Group AB, led by CEO Magnus Pettersson, is an international premium design and home furnishings e-commerce company, and expects to reach a turnover of almost SEK 1 billion ($122M) in 2020. The Group operates the brands RoyalDesign and Rum21.

Royal Design Group AB’s head office is located in Stockholm, with its warehouse situated in Nybro close to the Swedish city of Kalmar, and has 120 employees.