Retail investor on verge of Hobbycraft acquisition
Hobbycraft is on the verge of being acquired by a specialist retail investor, with a deal potentially being signed within the coming days.
Modella Capital is in advanced talks to purchase the arts and crafts retailer from its owner, private equity firm Bridgepoint, Sky News has reported.
Modella – whose executives have previously backed chains including Paperchase and Tie Rack – is affiliated with turnaround firm Rcapital, which formerly owned Little Chef.
Sky News said it was unclear how much Modella was likely to pay for the retailer, or whether other bidders were waiting if the deal fell through.
Modella has also invested in No Ordinary Designer Label, the UK franchise partner of Ted Baker, which collapsed into administration earlier this year. The retailer is closing all of its UK stores this week.
Hobbycraft – which was acquired by Bridgepoint in 2010 – trades from over 85 stores in the UK.
Earlier this year, the retailer laid out its requirements as it looks to continue expanding into 2025.