Noe Holding, who sold the majority of its shares in the design business &Tradition in 2016 with assistance from Accura, has sold the company’s remaining shares in &Tradition to Union Nine, which is controlled by the Holck Povlsen family. Noe Holding also acquires a large minority holding in Nine United Scandinavia from Union Nine. Founder of &Tradition Martin Kornbek Hansen continues as head of strategy in the group.
&Tradition was formed in 2010, and, today, it is an internationally renowned design brand, offering a large selection of furniture and lighting with unique designs from the 1920s up until today. &Tradition is, for example, known for producing the lamp series Flowerpot by Verner Paton, Arne Jacobsen’s Mayor couch and Viggo Boesen’s lounge chair Lille Petra. In the financial year 2021/2022, &Tradition generated revenue of DKK 721m.
Nine United Scandinavia is behind businesses such as Frandsen and Verpan. Frandsen has designed and produced lamps since 1968 and is known for its lamp series Ball. Verpan holds the rights to several designs by Verner Panton, including the classics Globe and Moon.
Accura advised Noe Holding in connection with the transactions.