On Monday evening, Online Brands Nordic AB announced that it had entered into an agreement to acquire all shares in Frank Dandy AB. The initial consideration amounts to SEK 43.2 million and will be paid in cash upon completion, which is scheduled for July 1, 2026. In addition, two additional considerations of up to SEK 16 million may be added, based on Frank Dandy's earnings development during 2026 and 2027.
Frank Dandy conducts sales both via e-commerce and retailers. The company had a turnover of SEK 120 million with an EBITA result of SEK 15.8 million during the period from the second quarter of 2025 to the first quarter of 2026. Pro forma figures for Online Brands and Frank Dandy combined during the same period show a total sales of SEK 637 million and an EBITA result of SEK 42.3 million.
The acquisition strengthens our position in Nordic e-commerce and we see great opportunities to jointly further develop Frank Dandy through our combined expertise in brand building, digital sales and international expansion, says Magnus Skoglund, CEO of Online Brands Nordic.
Frank Dandy's CEO, Tuss Odin Ekman, also comments on the deal:
Together with Online Brands, I see great opportunities to accelerate our expansion and reach more customers both online and through retailers, in and outside of Sweden.
Financed via Directed New Share Issue
In connection with the acquisition, Online Brands announced on Monday evening its intention to raise capital of approximately SEK 25 million. On Tuesday morning, it was announced that the directed new share issue had been completed and increased to SEK 31.6 million before transaction costs.
The subscription price was set through an accelerated bookbuilding process at SEK 10 per share. This corresponds to a discount of 12.3 percent compared to the closing price on Nasdaq First North Growth Market on June 22.
A number of institutional and professional investors participated in the issue. Among these are the existing shareholders Jofam AB, Qarlbo AB and the company's chairman David Rönnberg, through affiliated companies.
The new share issue increases the number of shares in Online Brands by 3,157,500, which corresponds to a dilution effect of 10.9 percent.