MIDAQ has today, via the new business area MIDAQ Indoor Living, acquired 100% of the shares in Magasin Group from Johan and Wolfgang Jüngling, Jüngling Group.
Magasin Group was started in 1971 and consists of companies in Sweden, Finland, Norway and Denmark. The Group has sales of just over SEK 100 million and has a broad portfolio of strong brands, both own and external, with high quality in household utensils and interior design (www.magasin.nu). The business will continue to be led by CEO Johan Jüngling.
Magasin Group fits well into our strategy and is a first step on our growth journey in the Indoor Living business area, says MIDAQ’s CEO Stefan Engdahl.
With MIDAQ as the new owner, we get a long-term partner and at the same time access to MIDAQ’s expertise and resources for our continued growth, says Magasin Group’s CEO Johan Jüngling.
The board of MIDAQ AB