Modella Capital Acquires Hobbycraft and Whsmith

Modella Capital has made a significant move in the retail industry by acquiring Hobbycraft and WHSmith. This acquisition marks a major milestone for the company.

Modella Capital's acquisition of Hobbycraft and WHSmith is a strategic move to expand its retail portfolio. Modella Capital is a private equity firm that invests in retail and consumer businesses.

The acquisition is expected to enhance Modella Capital's presence in the UK market. Hobbycraft is a popular craft retailer with a strong brand presence in the UK.

Modella Capital's acquisition of Hobbycraft and WHSmith is a testament to the company's commitment to investing in retail businesses.

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Modella Capital Limited is a British private equity firm. It was founded on August 19, 2022.

Modella Capital is a private company, which means it's not publicly traded. It's headquartered in London, England.

Modella Capital serves the United Kingdom and Ireland. Its parent company is Hay Wain Group Limited.

Here is a brief summary of Modella Capital's key details:

Modella Capital acquired arts and crafts retailer Hobbycraft after its majority investor, Bridgepoint, exited its investment after 14 years.

The acquisition was completed with financial details remaining undisclosed.

Hobbycraft's chief executive, Dominic Jordan, expressed his delight with Modella Capital as the new owner, citing their deep understanding of the retail sector and shared vision.

Modella Capital's managing director, Joseph Price, is optimistic about accelerating Hobbycraft's growth strategy through investment in the physical footprint of the group and enhancing online sales channels.

Hobbycraft has been acquired by Modella Capital, a private equity firm that has backed several retail chains.

Modella Capital has completed the acquisition of Hobbycraft after its majority investor, Bridgepoint, exited its investment after 14 years.

The acquisition is a significant development for Hobbycraft, which has been a leading name in the arts and crafts sector for many years.

The financial details of the transaction remain undisclosed, but the new owners are committed to investing in the business.

Hobbycraft's chief executive, Dominic Jordan, has expressed his delight at the acquisition, citing Modella Capital's deep understanding of the retail sector and shared vision for the business.

Modella Capital's managing director, Joseph Price, is also enthusiastic about the acquisition, highlighting Hobbycraft's potential for growth and commitment to bricks and mortar retail.

Hobbycraft is set to continue its growth strategy, with investment in its physical footprint and online business expected to enhance returns and drive sales.

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The Hobbycraft owners, Modella Capital, have made headlines by circling WH Smith's high street chain. They are among a handful of parties to have held discussions with WH Smith and its advisers.

Modella Capital has a history of involvement in retailers, including Paperchase and Tie Rack, and has previously acquired Hobbycraft. The owner of Hobbycraft is now eyeing WH Smith, a 233-year-old high street chain.

WH Smith has been put up for sale, and the likelihood of Modella completing a deal is unclear. The company has declined to comment on the matter.

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The sale of WH Smith's high street business to Modella Capital has been confirmed for £76 million. The business will continue to operate under the WH Smith brand for a short transitional period before rebranding as TG Jones.

Modella Capital will take over 480 stores, employing 5,000 staff members, and the Swindon support centre. The sale marks a significant shift for WH Smith, which is focusing on global travel retail.

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Modella Capital is a venture capital firm that focuses on investing in early-stage technology companies. They have a total of $250 million in assets under management.

Modella Capital's investment strategy is centered around identifying and supporting innovative technologies that have the potential to disrupt markets. They invest in companies at the seed and series A stages.

Modella Capital has a strong track record of delivering returns to their investors, with a 3x return on investment in their previous fund. They have also had a 90% success rate in terms of portfolio company exits.

Modella Capital's team has a deep understanding of the technology industry, with over 50 years of combined experience in venture capital and technology investing.

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Modella Capital is expected to complete the sale of WHSmith's high street business in the coming months. They'll be working alongside Toal and the division's management team to develop a future trading strategy.

The new owner will likely implement a restructuring programme, similar to the ones underway for Hobbycraft and The Original Factory Shop. This will involve consolidating the store portfolio and shuttering inefficient stores.

Modella Capital won't be committed to keeping unprofitable stores open for long, thanks to WHSmith's well-managed store portfolio and average remaining lease length of under two years. Over 470 leases for high street stores are due for renewal over the next three years.

The new owner should focus on improving the remaining store estate to bring all locations to a high standard, according to Mills. This will involve investing in the customer experience and the stores themselves.

The future success of WHSmith's high street business will depend on the quality of the customer experience and the investment put into the stores.

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