Flying Tiger Copenhagen acquired by Modella Capital
Flying Tiger Copenhagen has been acquired by Modella Capital, the owner Hobbycraft and TG Jones.
Founded in Denmark in 1995, the variety retailer has more than 1,100 stores in 44 countries and generated revenues of around £588 million in its most recent financial year.
Subscribe to TRBThe news follows a transitional period of ownership by Flying Tiger’s lending banks during which time the business was repositioned for long-term growth.
In a statement, Modella Capital said it is uniquely placed to support Flying Tiger as it enters a new chapter of growth, which will include international expansion and launches in Canada and El Salvador in June and July.
The firm is backing the existing Flying Tiger management team as it looks to roll out more than 700 new franchise stores by 2030.
Joseph Price, managing director at Modella Capital, said: “Flying Tiger Copenhagen is a hugely exciting opportunity for Modella Capital.
“With its strong retail brand, and a unique product offering that has built a loyal customer base across more than 40 countries, Flying Tiger Copenhagen is a business with tremendous potential.
“We are pleased to be investing in its future, and we look forward to working closely with the management team to provide the stability, capital and retail expertise the business needs to fulfil its growth plan.”
Jens Aarup Mikkelsen, chief executive at Flying Tiger Copenhagen, said: “Modella Capital brings deep retail expertise and shares our long-term ambitions for the brand, our colleagues and our customers.
“We are very excited to begin this next chapter together and continue building on the creativity, energy and customer experience that have made Flying Tiger Copenhagen stand out in a competitive retail landscape for more than 30 years.”
