By investing further in the successful Swedish e-commerce company Outnorth, Egmont Publishing has secured majority of the shares
By investing a tree-digit-million amount, Egmont Publishing will now chair the leading Swedish e-commerce company Outnorth, specialized in the outdoor market. Outnorth sells equipment and apparel for outdoor activities and training.
“Outnorth has a strong position in the online market, and the outdoor segment is one of our strategic focus areas within e-commerce. We believe that the company has a lot of potential and Outnorth fits very well into our portfolio of companies,” says CEO of Egmont Publishing, Torsten Bjerre Rasmussen.
Outnorth was founded in 2005 and operates in both Sweden, Denmark, Norway, Finland and Germany.
A little more than a year ago, Egmont made the first investment in the company which had a turnover of approx. SEK 430m in 2017. With the new investment Egmont secures the majority of shares in Outnorth.
“We have worked together with Egmont during the last year and they have a clear and long-term vision for both e-commerce and the outdoor business. Egmont is the perfect owner of Outnorth. We will continue our business and strengthen the position as the leading Nordic outdoor webshop,” CEO of Outnorth Lars Nykvist says.
Halfway towards 2020 goals
Besides the core business, Egmont Publising plans to build up new growth areas within both marketing services and e-commerce.
“2017 was a good year where we strengthened both areas. In 2018, we have invested in Ingager, the biggest Facebook agency in Sweden, and by buying Outnorth we quickly move towards our 2020 goal which is a turnover of EUR 500m in e-commerce,” Torsten Bjerre Rasmussen says.
Besides Outnorth, Egmont’s portfolio within e-commerce consists of Jollyroom, Bagaren och Kocken, Fjellsport, Med24 and Nicehair.