The Matas Group has an agreement with Axel Johnson to acquire 100% of the shares in the market-leading Swedish beauty company Kicks Group at an enterprise value of DKK 1,336 million ($195.8 million) and at an equity value of DKK 698 million ($102.3 million).
WHO: The Kicks Group is comprised of the leading omnichannel retailer Kicks, with 3.3 million club members and the largest online skincare clinic, Skincity. Kicks offers a full-service beauty concept in 226 physical stores and e-commerce across Sweden, Norway, and Finland, merchandised with a curated assortment of 25,000 products from +300 brands. They have 1,700 trained beauty advisors as well as certified skincare therapists that support customers online.
Matas is Denmark’s largest health and beauty retailer, established in 1949 as a chain of independent materialists. Today, Matas is a listed, integrated omnichannel retailer with own brands, 1.9 million Club Matas members, 260 physical stores, and matas.dk, the second most visited web shop across all categories in Denmark as well as multiple other specialty web shops.
WHY: Jointly, Matas and Kicks Group will operate the top beauty omnichannel retail concept in the Nordics, with Matas leading in Denmark and Kicks Group leading in Sweden and Norway and as a contender for market leadership in Finland.
IN THEIR OWN WORDS: Gregers Wedell-Wedellsborg, CEO of Matas, said, “With the acquisition of Kicks Group, we are creating the Nordic leader in beauty and wellbeing through the addition of the Kicks and Skincity banners. Kicks Group and Matas are an excellent match and by combining our two complementary businesses, strong omnichannel positions and passionate organizations and shared culture of customer service, we will lead the Nordic beauty market. I look forward to welcoming our approximately 1,700 new Swedish, Norwegian and Finnish colleagues to the group. United, we will strive to always be the first choice for beauty and wellbeing in the Nordics to the benefit of both our customers, colleagues, partners, and shareholders.“
Mia Brunell Livfors, CEO of Axel Johnson, said, “Together with management and employees in Kicks Group, we have succeeded in developing Kicks Group from a retail chain with modest online sales to an omnichannel player with a leading customer offering across all channels. We are confident that Matas is the right future owner to further strengthen Kicks’ and Skincity’s customer propositions in a highly competitive beauty market, as part of the leading Nordic group in beauty and wellbeing."
DETAILS:
