Europris is heavily involved in online toys – E24

The low-price chain Europris becomes the majority owner of Lekekassen, which is Norway’s largest online toy store.

The company pays NOK 501 million for the share of 67 percent.

This means that the Toy Fund is valued at a total of NOK 748 million.

The settlement takes place in cash, and Europris has acquired a pre-emptive right to buy the remaining shares in Lekekassen.

Started in 1945

The toy box was established in 1945 by the Skalleberg family in Grimstad, in Aust-Agder. The company operated exclusively with physical stores until the online store Lekekassen.no was established in 2013.

In 2020, the toy fund had a total turnover of NOK 545 million and an operating profit (ebidta) of NOK 94 million.

Europris CEO Espen Eldal, who will be chairman of the board of Lekekassen, says they are “very enthusiastic” about becoming a majority owner of Norway’s largest online toy store.

– Toys are a category with a clear growth potential for Europris, and Lekekassen’s products will contribute to a better customer experience in our stores.

– We also see the potential for developing better consumer-oriented solutions faster and more cost-effectively on Lekekassen’s well-functioning technology platform for the benefit of customers across the country, says Eldal in a statement.

Entrepreneurial heir joins as owner

Lekekassen manager Andreas Skalleberg says they are “proud merchants through generations”, but that they have lately been looking for a partner who can further develop and expand the family business further.

– We have had very good contact with the Europris team and feel very at home in their corporate culture, and we look forward to starting the collaboration. When we now merge with Norway’s largest and most successful player in a wide range of products, we are really looking forward to expanding our business throughout Scandinavia.

Skalleberg will continue as CEO and will remain the owner of 33 percent of Lekekassen.

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