Swedish kitchen furniture group Nobia has agreed to divest its UK operations, including the brands Magnet, Gower, Commodore and CIE, to funds managed by Alteri Partners LLP. The move is part of Nobia's strategic focus on its core Nordic markets, where the company operates from its Nobia Park factory and maintains strong brands with higher structural margins.
© Nobia
Kristoffer Ljungfelt, Nobia President and CEO, said the decision "gives Nobia the best preconditions for strong profitable growth going forward." The UK division reported net sales of SEK 4,363 million and an operating loss of SEK 108 million over the twelve months to September 2025. Nobia will retain the defined benefit pension plan in the UK, valued at SEK 80 million.
The divestment will see the UK operations' assets and liabilities reclassified as held for sale, with a preliminary non-cash impairment of SEK 750 million reflecting accounting remeasurement. Completion is expected in the first half of 2026, subject to regulatory approvals. Nobia's focus on the Nordic region aims to consolidate its production, strengthen margins, and prioritise markets where it has established competitive advantages.
Source: www.bigfurnituregroup.com
