Egmont’s Nordic e-commerce company Bageren og Kokken takes over GoShopping. The merger of the two companies secures a leading position in the online market for kicthenware and robots for domestic use
In a growing market with tough competition, the keys to success are providing high quality products on a large scale. And these factors are an important part of why the successful e-commerce company GoShopping is becoming part of the family at Egmont-owned Bageren og Kokken. The merger, which secures Bageren og Kokken 85.5% ownership while the founders of GoShopping keep the remaining 14.5%, gives us a leading position in e-commerce in both the kitchenware and domestic robots sectors.
Robert Henricson, CEO at Bageren og Kokken, emphasises the fantastic possibilities of the merger which will give us an even stronger position in the market:
”We already have a strong position in both Sweden and Norway – now we will have the same possibility in Denmark. At Bageren og Kokken we are known for our expertise in our category – and by this merger we will get competencies which will enable us to become even stronger,” he says.
Kasper Witt, one of the three owners of GoShopping, sees obvious synergies in connection with Bageren og Kokken:
”We will strengthen our possibilities and position in the whole of Scandinavia. Our ambition is to be the biggest player in the Nordic countries – and we are now very much on our way. At the same time, we benefit from Egmont’s power and expertise in the sector,” he says.
GoShopping has been awarded Børsen’s (Danish business newspaper) Gazelle prize three times – the latest one very recently. Since 2015, GoShopping has had a remarkable growth and in 2017 anticipates a turnover of +DKK 140m. After the merger, the companies will reach a consolidated turnover just below DKK 300m in 2017.
Recently, Egmont Publishing bought full ownership of Bageren og Kokken, and after the merger the publishing house will still be the biggest owner.
”We are pleased to welcome GoShopping. The merger will keep us in a significant position in the market, and this is a relevant step for us in our investment strategy, where e-commerce has an important role,” says Cato Broberg, General Manager of e-commerce in Egmont.
Egmont Publishing has already invested in several strong e-commerce companies, such as Jollyroom, Fjellsport, Med24, Nicehair and Outnorth. Alongside this, the media group focuses on marketing service companies, and is behind Nordisk Film, 700 magazines and weeklies, book publishing, and TV2 in Norway.
GoShopping and Bageren og Kokken will continue under their individual names. The consolidated unit will be based in both Denmark and Sweden.