Modella Capital, the private equity firm behind TG Jones, has announced the acquisition of Flying Tiger Copenhagen, marking the latest high street takeover by the investment company.
Acquisition Details
Modella stated that the purchase represents a new chapter for the Danish retailer, which operates more than 1,100 stores across 44 countries. Flying Tiger is renowned for its eclectic range of low-cost merchandise, including stationery, crafts, home and kitchen items, as well as its distinctive maze-like store layouts.
The company had been under the control of its lenders and management following a restructuring process last year. Modella declined to disclose the financial terms of the deal but confirmed its support for the retailer's existing expansion strategy, which targets over 700 new franchise store openings by 2030.
Modella's Growing Retail Portfolio
Modella has rapidly become a significant player in the British retail sector, with notable acquisitions including WH Smith's high street chain—rebranded as TG Jones—along with Claire's Accessories and The Original Factory Shop. The firm is currently seeking creditor approval for restructuring plans at TG Jones that could result in the closure of up to 150 stores.
Claire's Accessories was purchased out of administration before subsequently entering insolvency, leading to the closure of all its UK and Ireland outlets. Similarly, The Original Factory Shop collapsed into administration earlier this year.
Management Comments
Joseph Price, Modella's managing director, described the Flying Tiger acquisition as a "hugely exciting opportunity." He added: "We are pleased to be investing in its future, and we look forward to working closely with the management team to provide the stability, capital and retail expertise the business needs to fulfil its growth plan."
