Verdane and Canica partner to grow Norwegian e-commerce winners

28 May, 2019

Verdane is set to deploy expertise and experience from 26 previous and current investments in Nordic e-commerce companies to Norway. Together with the management teams, Verdane and Canica eCom aim to make Komplett Apotek, Bildeler.no, Blush and SixBondStreet Norwegian online champions.

Verdane and Canica eCom today announced an agreement in which Verdane Capital X acquires half of Canica eCom’s shares in Komplett Apotek, the online pharmacy, and Norsk Bildelsenter (Bildeler.no), the online retailer of auto parts. The deal also includes Blush.no, the online retailer of beauty and wellness products, and SixBondStreet, the online retailer of exclusive furniture and decorative items.

Through the agreement, Verdane, Canica eCom and the management teams of Komplett Apotek, Bildeler.no, Blush.no and SixBondStreet join forces to develop the companies further. The partners are ready to invest NOK 200 million the coming years, with an ambition to continue and accelerate the companies’ growth in Norway.

“We are pleased to announce our partnership with Verdane. Together we will create a solid platform for the companies’ continued growth based on comprehensive e-commerce expertise, customer insights and execution power”, says Nils Kloumann Selte, chairman of the board in Canica eCom.

Verdane has comprehensive experience as an active owner of e-commerce companies. Its e-commerce team has been part of other successful businesses such as Babyshop, Boozt, Bythjul, Desenio, MatHem and Safira. In total, Verdane has invested in 26 e-commerce companies, which have delivered an annual average revenue growth of 31 percent in the ownership period.  

“We have been active owners in e-commerce companies for 16 years and have developed extensive experience and best practices in building Nordic e-commerce winners. We have previously invested in Swedish, Danish and German e-commerce companies. Now we are looking forward to utilising our expertise in the Norwegian market, together with Canica eCom and in close cooperation with the four businesses’ management teams”, says Bjarne Lie, Managing partner at Verdane.  

The transaction is expected to close mid-June 2019, pending approval from relevant competition authorities.

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For more information, please contact:

Jonathan Bui, Communications Manager, Verdane: +46 76 27 28 100

Kjetil Wisløff, COO, Canica: +47 91 89 85 35

 

About Verdane

Verdane’s ambition is to be the preferred growth partner to technology enabled businesses in Northern Europe. Verdane funds provide flexible growth capital to fast-growing software, consumer internet, energy or high-technology industry businesses, through both majority and minority investments in individual companies and portfolios. Verdane funds act as ambitious, active and long-term owners, helping management teams and companies accelerate and sustain growth by leveraging the Verdane advisory team’s technology capabilities and proven track record in driving business value. Verdane funds’ current portfolio includes EasyPark, Boozt, Babyshop, Desenio, MatHem and Safira, and the Norwegian companies HR Manager/Webcruiter, Conexus and Lingit. Previous Norwegian investments include companies such as Banqsoft, Reslink and Resman. Verdane has 39 employees working out of offices in Copenhagen, Helsinki, London, Oslo and Stockholm. For more information, please visit www.verdane.com.

About Canica

Canica is a family owned company and one of the largest privately-owned investment companies in Norway. The company is an active and long-term owner, mainly within food production, FMCG, retail and real estate. Canica supports the companies’ managements in securing growth through utilising Canica’s expertise in retail, business development and finance. For more information, please visit www.canica.no.

About Komplett Apotek

Founded in 2015, Komplett Apotek is a full-service online pharmacy offering a wide selection of non-prescription and prescription based products, through fast shipment at low cost. The company is offering its customers access to expert personnel through chat and phone calls, as well as detailed product information on its website to ensure informed decision making. Komplett Apotek holds its own pharmacy and operating license from the Norwegian Medicines Agency and has been approved as an online pharmacy. Komplett Apotek is headquartered in Sandefjord, Norway. After the transaction, Verdane and Canica will together own 100 percent of the company. For more information, please visit www.komplettapotek.no.

About Bildeler.no

Founded in 1990, Norsk Bildelsenter (Bildeler.no) has been active in importing and selling car components for 29 years. The company has always strived to offer quality parts at the lowest possible price. Bildeler.no originally started with VW and Audi, but the product range has constantly grown and today the company covers a total of 22 different car brands. Bildeler.no concentrates on cars from five years and older, and with parts for 22 car brands in the portfolio the company now covers over 85 percent of the after sales market in this segment. Bildeler.no’s goal is that all the parts the company sells should be of the same original quality, always offered at the best prices in the market. The company’s store, sales and procurement are located at Lierskogen, between Drammen and Oslo. After the transaction, Verdane and Canica will together own 90 percent of Bildeler.no. For more information, please visit www.bildeler.no.

About Blush.no

Founded in 2010, Blush is one of Norway's leading online retailers within beauty and wellness products. At our store you will find everything from makeup and skin products, hair care and perfume, to sunglasses and watches. Our product range covers well-known and established brands in addition to many exciting new ones, in particular within natural and ecological products. Sustainability is at the top of our agenda, and we take several actions in our value chain to contribute in solving global sustainability related issues. Among others, we support WWF’s work to stop marine pollution by contributing with a share of our revenue. We are certified as a safe e-commerce store. After the transaction, Verdane and Canica will together own all the shares in the company. For more information, please visit www.blush.no.

About SixBondStreet

Our story began back in 2012, sparked by international impulses and a desire to deliver that little extra within furniture and interior design. We are a small, dynamic organisation that can quickly turn around to offer you the best of the latest furniture and interior design products. Through self-produced collections and our online concept store, we have the opportunity to offer quality products and design at the right price. At our store you will get the items which you cannot find anywhere else. Through exciting collections with international expressions, quality and reasonable prices, we seek to inspire you to create your dream home. After the transaction, Verdane and Canica will together own 50 percent of SixBondStreet, and the two companies Macama and Magenta will continue to hold a combined ownership of 50 percent. For more information, please visit www.sixbondstreet.no.