Actona Group acquires Theca
Shortly after announcing a record result and the launch of an ambitious growth strategy Actona Group can now announce the acquisition of Theca. With the new acquisition Lars Larsen Group strengthens its position within the upholstery market.
Actona Group, which is a part of Lars Larsen Group, has just introduced its ambitious growth strategy ”Sustainable Business”.
One of the focus areas is a strengthening of the position within upholstery which is one of the three central business areas. The strengthening will be obtained through a combination of organic growth based on current factories in Ukraine and China and through focused acquisitions primary in Northern- and Southern Europe.
With the acquisition of Theca, Actona Group takes a major step towards creating a strong upholstery division with an expected billion DKK revenue.
Theca primary produces sofas and resting chairs and has their own factories in Lithuania and Belarus where more than 3.500 orders are produced weekly.
”The acquisition of Theca is the first in an expected number of strategically important acquisitions, which will both strengthen our innovative and production competences and upscale our capacity significantly” says CEO from Actona Group, Jimmi Mortensen and continues:
”Upholstery is the largest product category within the furniture market and therefore it is important for us to constantly grow through both acquisitions and organic growth”.
Theca is founded by Claus Svenningsen, who remains in the company and will be responsible for the new consolidated upholstery division at Actona Group.
”I am incredible pleased for the prompt settlement of the agreement and to be trusted the responsibility of the consolidated upholstery division, which contains a huge potential. Theca has always been an excellent production company with very proud craftsmanship traditions. This is now combined with the strong customer and market understanding of Actona Group” says Claus Svenningsen.
Till now he owned a third of Theca while Dansk Ejerkapital (former Industri Udvikling) and LTP Group likewise had a third of the ownership each. When the sale is completed, Theca will be 100 percent owned by Actona Group.
Prior to this, the sale must be approved by the The Danish Competition and Consumer Authority which all parties hope will happen promptly.
Actona Group has just announced key figures for FY21 and presents a revenue of 2,43 billion DKK, while the recent financial year Theca had a revenue of around 0,5 billion DKK.