TGJones owner acquires Flying Tiger Copenhagen
Modella Capital, the owner of TGJones and Hobbycraft, has acquired variety retailer Flying Tiger Copenhagen.
The private equity firm said that it is uniquely placed to support the retailer as it enters a new period of growth, which will include expansion into Canada and El Salvador this summer. Modella Capital also said it is backing Flying Tiger’s existing management team as the retailer looks to open 700 franchise stores by 1930.
The acquisition follows a transitional period of ownership by Flying Tiger’s lending banks, during which the business was repositioned as it looked to secure long-term growth.
Joseph Price, managing director at Modella Capital, said: “Flying Tiger Copenhagen is a hugely exciting opportunity for Modella Capital.
“With its strong retail brand, and a unique product offering that has built a loyal customer base across more than 40 countries, Flying Tiger Copenhagen is a business with tremendous potential.
“We are pleased to be investing in its future, and we look forward to working closely with the management team to provide the stability, capital and retail expertise the business needs to fulfil its growth plan.”
Jens Aarup Mikkelsen, chief executive at Flying Tiger Copenhagen, added: “Modella Capital brings deep retail expertise and shares our long-term ambitions for the brand, our colleagues and our customers.
“We are very excited to begin this next chapter together and continue building on the creativity, energy and customer experience that have made Flying Tiger Copenhagen stand out in a competitive retail landscape for more than 30 years.”