STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
CDON Group AB (STO:CDON) one of the largest e-commerce businesses in the Nordic region, today announced that it has acquired 90.1% of Swedish online retailer of designer brand furniture and interior decoration products RUM21.se.
RUM21.se was launched in 2006 in Borås, Sweden and is a leading online retailer of brand furniture and interior decoration products. The online store offers a broad range of leading Scandinavian and European brands. RUM21.se also has a shop in Borås, Sweden. The furniture and interior decoration products market in Sweden was worth approximately SEK 41 billion in 2009.
RUM21.se reported a year on year sales growth of 40% to SEK 11.2 million, with an operating profit of SEK 1.1 million for the full year ended 31 December 2010. Gustaf Rudholm, one of the founders of RUM21.se will control the remaining outstanding shares in the company.
RUM21.se will be consolidated within the Group from 1 February 2011.
Mikael Olander, President and Chief Executive Officer of CDON Group, commented: “The acquisition of RUM21.se is in line with our strategy to acquire established and dynamic brands in high growth market segments. It also moves us into a new and rapidly evolving online product area. RUM21.se’s business and brand have been evolving continuously over the last five years, and we look forward to integrating its offering into our retailing platform and e-commerce experience.”
About CDON Group
CDON Group is one of the largest e-commerce businesses in the Nordic region. Established in 1999, the Group has continuously expanded to become a leading internet retailer in the Entertainment (www.CDON.COM, www.BookPlus.fi, www.Lekmer.com), Fashion (www.Nelly.com, www.LinusLotta.com, www.Heppo.com, www.RUM21.se), and Sports & Health (www.Gymgrossisten.com, www.Fitnesstukku.fi, www.Bodystore.com) segments. CDON Group’s nine internet stores attract approximately two million unique customers a year and the Group reported revenues of SEK 2.1 billion for the twelve months ended 30 September 2010.
The information in this announcement is that which CDON Group AB is required to disclose under the Securities Markets Act. This information was released for publication at 08.35 CET on 1 February 2011.
For further information, please visit www.cdongroup.com
This information was brought to you by Cision http://www.cisionwire.com