DNB ASA has sold a 49.9% stake in Notabene AS to Jotunfjell Partners AS
DNB ASA has sold a 49.9% stake in Notabene AS to Jotunfjell Partners AS who has the option to buy up to 80.1%. of Notabene's shareholding. Financial details have not been disclosed.
Notabene is Norway's largest independent chain of bookstores not owned by any of the publishing houses. The company has been owned by DNB since 2013. Notabene has 109 stores across the country and is headquartered in Solbergelva. The company had 2015 revenues of US$53.6 million. The retail chain has 560 employees.
Jotunfjell Partners is an investment company with focus and particular expertise in retail. Jotunfjell’s business consists of interests in fashion garments (Airport Fashion, Steen & Strøm, Outlet One, Pagelle), Gullfunn Group and Elite Foto. In addition, they operate duty-free shops at a number of airports in Norway and abroad.
DNB is Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalization. The group offers a full range of financial services including loans, savings, advisory services, insurance and pension products for retail and corporate customers.
Thomas Midteide, Executive Vice President at DNB, said that the bank is very pleased with this solution: "It is obvious that bookstore operation is not our core business. During the last three years, we have managed to turn the company into a profitable business. We wanted to continue with an ownership stake in Notabene because we believe there is an upside there."
Oaklins' team in Norway advised the seller in this transaction.
Talk to the deal team
Related deals
STM Environmental has been acquired by Phenna Group
STM Environmental has been acquired by Phenna Group, gaining access to a broader network of expertise, enhanced resources and global reach. With extensive experience in life safety, environmental compliance and quality testing, along with a wide client base, Phenna Group is the ideal partner to accelerate STM Environmental’s expansion.
Learn moreOBI Group has acquired the OBI and individual DIG stores from Migros
As part of a strategic review, Migros has decided to divest its DIY business, which included several “Do It + Garden” and “OBI” locations. Migros had operated the Swiss OBI stores as a franchisee. In OBI Group Holding, Migros has found the ideal partner to ensure continuity for both its customers and employees.
Learn moreAcapo AS has been acquired by Longship AS
Oslo-based intellectual property advisory firm Onsagers, supported by Longship since May 2024, has acquired Acapo AS. By combining decades of expertise and global reach, this strategic acquisition unites two of Norway’s most reputable IP firms, enabling them to offer a comprehensive range of solutions in patents, trademarks and IP strategy. This milestone strengthens their position in building a best-in-class network for strategic IP management, marking a key step in their continued growth.
Learn more