FNG completed the acquisition of a majority stake in Ellos Group from Nordic Capital for €229m.

FNG completed the acquisition of a majority stake in Ellos Group Holding, an e-commerce market leader in fashion and interior design in Scandinavia, from Nordic Capital and the other current shareholders. This makes FNG an important player in the European omni-channel retail market. The purchase price would be approximately €229m ($258m), on a cash and debt-free basis. After the transaction, Nordic Capital will become an important minority shareholder in FNG. “Ellos Group is the market leader in Scandinavia and offers a very attractive mix of fashion and interior and decorative items, with a strong positioning of its own brands. In combination with its powerful platform for financial services, this is an ideal asset for FNG," said Dieter Penninckx, FNG Founder and CEO.