Hööks Hästsport is the leading company in Scandinavia within the equestrian sports sector and has an extensive product range for riders, horses and dogs.
During Accent Equity's ownership, the number of stores increased by 65%, sales grew organically by almost 15% per year, and EBITDA doubled.
Retail/online, equestrian focus
Type of investment:
Roll-out and accelerated growth
Hööks, founded in 1931 and headquartered in Borås, was at the time of investment a promising Nordic retailer of equipment for riders and horses. Sales were conducted via own retail stores and distance sales (mainly online) in the Nordics. The company had nearly 5,000 articles in its assortment, consisting of both own brands and sourced brands.
Accent Equity acquired Hööks from the Höök-family in early 2011 together with Joachim and Maria Höök and other key employees. There was a need for further investments to intensify the roll-out of new stores in the Nordics as well as improving online sales and marketing, particularly to drive growth outside the Nordic countries.
Key initiatives and results during Accent Equity's ownership
Increased organic growth to almost 15% annually through successful roll-out of new retail stores in the Nordic countries. The number of stores increased from 26 to 43 stores and there were five additional store openings contracted at time of exit
Improved store sales operations and further development of online platform enabling market penetration and growth outside the Nordics
Increased web and social media presence to drive brand awareness and customer interaction
Marketing initiatives and introduction of customer loyalty program boosted customer registrations by almost 40%
Nearly doubled the number of employees during holding period
EBITDA more than doubled during Accent Equity's holding period
I would like to express my gratitude to Accent Equity for their great contribution to our positive development in the past few years.
- Joachim Höök, Höök's CEO and third-generation founder of Hööks
Exit rationale and process
Having surpassed the expansion plans undertaken at entry, Accent Equity was approached by Alipes Invest AB, an investment firm specialized in the retail and consumer sectors in the Nordics, owned by Inter IKEA Investments AB. Alipes Invest acquired Hööks in March 2014.