Egmont Publishing is to become co-owner of Swedish e-commerce company Outnorth, continuing its expansion in e-commerce, a business area characterized by high growth.
In 2016, the e-commerce companies that Egmont Publishing has invested in saw a total revenue of more than 130 mEUR. With the co-ownership of Outnorth, Egmont Publishing’s e-commerce portfolio now consists of 7 Nordic companies. Within two years, the goal is to double the total yearly revenue through a combination of organic growth and further acquisitions.
"Egmont has in recent years invested in a number of successful e-commerce companies in the Nordic region. Our objective is to invest and develop our positions to be leading in the Nordics. Outnorth is a solid company with a competent management and strong partners in the ownership structure," says CEO of Egmont Publishing, Torsten Bjerre Rasmussen, who also joins Outnorth’s board.
Outnorth is the leading online retailer in Scandinavia in ‘the outdoor product category’ and sells clothes, shoes and equipment for outdoor use and training. The private equity fund Verdane is also part of Outnorth’s ownership.
“With yet another strong year behind us and with this new investment we are better prepared for the future than ever. We will expand our assortment and focus on an even higher level of service,” says Outnorth’s CEO, Lars Nykvist.
Egmont Publishing is behind more than 700 magazines in 30 countries and has expanding businesses within e-commerce and marketing services. Besides Outnorth, Egmont Publishing is co-owner of the following e-commerce companies in the Nordics: Jollyroom, Fjellsport, Bagaren och Kocken, Med24, Nicehair and Animail.