Acquisitions and investments even in turbulent times are the strategy for the family group Lars Larsen Group. Its furniture company Actona Group is now completing its second acquisition in the past year – and is thus investing a total of DKK 1.5 billion. DKK for revenue.
Denmark’s largest furniture manufacturer
This time, Actona Group, Denmark’s largest furniture manufacturer and wholesaler, takes over the company Sits in Poland. It has two factories with a total of 2,000 employees in Poland and a turnover of about 1 billion. kr.
Sits works in the production of upholstered furniture – i.a. sofas – and is a business area that Actona would like to strengthen in relation to the large customers in the international retail trade. In the autumn of 2021, the company also took over the Danish furniture manufacturer Theca.
“We have great ambitions to double our business in a few years, and here the upholstery market plays an important role in the strategy together, among other things. online shopping. The two acquisitions together give us a big boost in the goal, “says CEO Jimmi Mortensen, Actona Group.
The company aims in a new 2025 strategy, which was set after Jimmi Mortensen took office at the beginning of 2021, to reach a turnover of more than DKK 4 billion. and a bottom line of DKK 500 million. Already in the financial year 2020/21, revenue grew organically by 30 per cent. to 2.4 billion. and the annual result before tax by 70 per cent. to 268 million. kr.
Jimmi Mortensen states that Theca has increased its turnover by approx. 500 million DKK, while the Polish acquisition triggers an additional 1 billion. Thus, Actona is closer to reaching the goal of DKK 4 billion. DKK on the top line long before your own deadline.
“We are moving in the right direction to achieve our goals quickly, but there is still a lot of work to be done. We follow the plan and have accelerated our growth, so we will continue to do so, «states Jimmi Mortensen.
Part of Jydsk
The furniture group is owned by the Lars Larsen Group, which has growth as a defined goal. In addition to the largest activity, Jysk, the family group has 3,100 stores in 50 countries, a large number of companies and investments. The goal is to continue to grow both organically and through acquisitions.
Jimmi Mortensen at Actona acknowledges that right now there are global challenges with high inflation, rising energy and commodity prices, pressure on global logistics and war in Europe.
“It is precisely in times like these that our strong ownership is expressed. We have opportunities to consolidate and expand in upholstered furniture, which is our goal. Thus, we now have factories in Poland, Lithuania, China and Ukraine. Despite the horrific war in Ukraine, we have been able to maintain production and thus important jobs for our loyal colleagues. Overall, we are stronger vis-à-vis customers in Europe”,says Jimmi Mortensen.
Actona Group takes over Sits in Poland from a Swedish family group led by the couple Erik and Marianne Näsström, who established the company in 1993. In a press release, the current owners state that “the deal will benefit both companies”.
The parties do not wish to disclose the sale price. The transaction must be approved by the competition authorities in Poland, Austria and Sweden before it can be executed.
Actona started as a trading company with a focus on purchasing furniture and home articles in large quantities from suppliers around the world, and then selling to large customers in the retail trade. Over a number of years, the company has also expanded with e.g. its own production of especially upholstered furniture.