It becomes clear that the assets have been sold upon a glance at the latest annual report for Leqthor AB, which previously housed the brand. During the broken fiscal year 2025/2026, the company reported a turnover of 1.8 million Swedish kronor, compared to 14.8 million Swedish kronor during the previous year.
Operating profit for the same period landed at 1.4 million Swedish kronor, an increase of 218 percent from the previous year's loss of 1.2 million Swedish kronor. The changes in the figures, as well as the fact that the company does not currently conduct any operations of its own, are said to be entirely due to the asset sale.
When we ask Alexander Thor about the transition to Cervera's parent company, he confirms the arrangement.
Leqthor's entire assets in the form of the Vargen & Thor brand have been sold to the Norwegian company Home Brands AS, which is part of the same group as Cervera, Kitchn, Tilbords and more. Owned by HomeCo AS, he says.
Strong Growth in Norway
The new corporate structure has quickly yielded results on the sales side. Instead of slowing down, the brand has expanded, and the figures show a positive development since the deal went through.
This has resulted in a significant increase for Vargen & Thor, where we more than doubled turnover just during the first year, 2025 compared to 2024. So far in 2026, we have continued to grow by 40 percent compared to the previous year. So it's growing rapidly, especially in Norway, says Alexander Thor.
Own E-commerce Remains
Despite the fact that Vargen & Thor now belongs to a group with a large number of physical stores, the strategy is not to shut down its own e-commerce store. The existing online store continues to operate under the same domain but benefits from new synergies.
Vargenthor.se is very much still alive and shares warehousing and customer service with Cervera. It has a stable turnover on its own of around 10 to 15 million Swedish kronor per year, he says.
At the same time, Alexander emphasizes the importance of the brand being able to stand on its own feet and be sold through various channels, not just through the owner group's network.
It is important that Vargen & Thor is and remains its own brand, which is not tied to a specific chain or store. For example, we also have a very strong connection to Bagaren & Kocken and Royal Design.
New Categories for the Kitchen
The growth means that the plans for the future involve expanding the product catalog. The team is looking to broaden the range in the coming years and plans to enter a completely new segment for the company.
The business is growing rapidly and is on track. In 2027, we will go from 110 to 170 articles, and we will even venture into the electrical assortment, says Alexander Thor.
For Alexander personally, the asset deal has also meant a change in everyday life. He can now focus on what was the intention from the beginning: to create and develop products for the kitchen.
Simply put, I am very pleased with the transition to Home Brands. It has given me time and space to be creative again, something I clearly noticed I was getting further away from as the company grew and I constantly got stuck in other tasks, concludes Alexander Thor.