The Danish yarn company Hobbii has sold its controlling interest to the private equity fund Verdane.
Hobbii sells yarn and yarn accessories on its web shop and in its 8 physical stores in Denmark and Germany. Hobbii has a D2C business model which means that the company primarily sells its own products directly to consumers.
Hobbii was formed in 2015, and, for several years, it has been one of Denmark’s fastest growing companies. Today, Hobbii is present in more than 30 countries, and 85% of the revenue is generated outside Denmark.
Moreover, Hobbii has created an extensive community around knitting and crocheting and, for example, has 1.7m members in its membership club.
Verdane is a European growth equity investor with offices in 6 countries which has completed more than 135 investments since 2003.
Hobbii’s goal is to further the internationalisation and growth of the company.
Accura advised Hobbii and the sellers in connection with the transaction.