Fiskars to cut Axcel Private Equity out of Royal Copenhagen

Fiskars, the Finland-based global supplier of consumer products for the home, garden and outdoors, yesterday announced it has signed a definitive agreement to acquire Royal Copenhagen, the Danish fine porcelain company, from Royal Copenhagen A/S, whose controlling parent company is Axcel Private Equity.

Axcel invested in Royal Copenhagen back in 2001, which seems a lifetime ago when you think about the ride that the PE market has taken over the last 11 years. Fiskars is paying a total consideration of DKK 490 million (roughly EUR 66 million) and the deal is expected to close early in 2013, providing Axcel with its second exit from a Scandinavian luxury goods company in a matter of weeks.

At the beginning of November, Axcel sold its stake in Georg Jenson which, like Royal Copenhagen, had also been part of the Royal Scandinavian Holding Group. Both companies are considered to be iconic design brands, and, while Georg Jenson has been sold to Investcorp, the financial investor specialising in companies with high-end luxury brands, Fiskars has also made it clear that it aims to capitalise on the Royal Copenhagen name and integrate it in to its own luxury product ranges.

Filed under: dealmaking, exit, luxury, M&A, PE, brands