RugVista Group AB, one of Europe’s leading online rug retailers, has divested the subsidiary ArtGlass in Malmö AB. The divestment is made to focus RugVista’s operations.
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.
For further information, please contact:
Michael Lindskog, CEO RugVista Group AB
Tel: +46 40 668 81 04
About RugVista Group
RugVista Group offers online sales of rugs in more than 100 countries through the RugVista and CarpetVista brands and offers online shops in 20 different languages of which 17 are European. The company’s strong growth since the start in 2005 has been driven by a wide and relevant range of rugs for all tastes coupled with a clear focus on customer satisfaction. The company has about 75 employees with headquarters in Malmö.