Modella Capital, which has backed chains including Paperchase, Tie Rack and Ted Baker’s UK licensing partner No Ordinary Designer Label (NODL), has acquired arts and crafts retailer Hobbycraft.
Modella Capital has completed the acquisition of arts and crafts retailer Hobbycraft after its majority investor, Bridgepoint, exited its investment after 14 years.
The financial details of the transaction remain undisclosed.
Hobbycraft, which employs more than 2,000 colleagues in over 124 stores across the UK, was founded in Bournemouth in 1995 and acquired by Bridgepoint in 2010.
In the full year of 2024, the retailer reported sales of £216m and adjusted EBITDA of £10.4m.
Dominic Jordan, chief executive of Hobbycraft, said: “We are delighted that Modella Capital is the new owner of this great business. Their deep understanding of the retail sector, shared vision and cultural values, combined with significant reserves of growth capital, make them an ideal partner.
“I would also like to thank Bridgepoint for their support and collaboration over the past 14 years. Hobbycraft has evolved into a leading name in the arts and crafts sector and I am confident that, together with Modella Capital, we have a very bright future ahead of us.”
Joseph Price, managing director at Modella Capital, said: “Hobbycraft is a business with fantastic potential, boasting a highly experienced management team, truly passionate store colleagues and real authority in a sector on the high street that continues to grow and is set to do so in the future.
“We look forward to accelerating the team’s growth strategy through investment in the physical footprint of the group, displaying a real commitment to bricks and mortar retail, and by enhancing the returns generated from their existing sales channels, including their growing online business.”
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