RugVista Group AB has today completed the divestment of the subsidiary ArtGlass in Malmö AB. The buyers are Baltzar Widding-Persson, currently business manager for the ArtGlass business, and the investors Filip Mican and RugVista’s Chairman of the Board Erik Lindgren.
The divestment of ArtGlass is carried out to focus RugVista’s operations to further develop its market position as one of Europe’s leading online rug retailers. The divestment process has been carried out with the support of Deloitte Corporate Finance and the process of identifying potential buyers for ArtGlass began in September 2020.
The ArtGlass concept was launched in 2008 with a focus on online sales of a unique and limited range of art glass and glassware from Swedish glassworks and has since been expanded to complementary categories. ArtGlass had sales of approximately SEK 20 million during the period October 2019 – September 2020.
