Bridgepoint has sold Hobbycraft, a UK-based retailer specializing in craft and hobby supplies, to Modella Capital. The financial terms of the sale have not been disclosed. Hobbycraft, which generated £216 million in revenue and £10.6 million in profit last year, operates 124 stores across the UK and has a notable online presence. The company is known for offering ‘how-to’ workshops for crafting enthusiasts. Modella Capital, which has prior investments in the retail sector, sees this acquisition as a strategic addition to their portfolio.
Retail, Private Equity, E-Commerce,United Kingdom