Clearwater International has advised the founders of Poster Store, a leading Scandinavian wall art business, on its sale to Desenio.
Poster Store is one of the fastest growing direct to consumer companies within the wall art market. The business has been acquired by Desenio, Europe’s leading online store for art prints and frames which is backed by the majority owner and growth-investor Verdane.
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The combined group will draw on its broad product offering, powered by its data-driven creative process and digital marketing expertise, to continue its mission to help people create beautiful homes through affordable and easily accessible wall art.
Both companies will continue to operate under their respective brands as they expand operations across Europe, the US and Asia. The new group will have combined revenues of more than €97.8m (1bn SEK) in 2020.
„By learning from each other, Desenio and Poster Store will be able to bring more and better art at great prices to art-loving consumers across Europe, the U.S. and Asia. I am beyond proud of our team having taken Poster Store this far in only six years, and we all look forward to meeting and working with our new colleagues.“ – Tobias Renlund, CEO and Co-Founder of Poster Store
„The Poster Store team has demonstrated great design and marketing competence, and our product styles, aesthetics, design and curation are strongly aligned. Together, we are taking on expansion into the U.S. and Asia as we continue producing great designs. It’s a Swedish tradition we are proud to be part of.“ – Fredrik Palm, CEO of Desenio
„Poster Store’s impressive growth, scalability in its business model as well as the data-driven focus created considerable buyer interest. Following an effective and structured process, we reached a transaction with Desenio which will yield significant synergies. We look forward to observing as the new, combined group will take the global leading market position within their niche of affordable wall art.“ – Henrik Jakobsson, Director Clearwater International