Dorset’s Hobbycraft closing in on sale - reports
Dorset-based arts and crafts retailer Hobbycraft could be sold ‘within days’ to retail investor Modella Capital, Sky News has reported.
Modella is now in advanced talks to acquire the brand from private equity firm Bridgepoint, which bought the business back in 2010 for £100 million.
Founded in 1995, Hobbycraft now operates more than 100 stores across the UK.
It most recently posted revenues of £203.1 million for the 2022 financial year – up 15 per cent on the year prior after stores reopened post Covid.
Modella is an investor in No Ordinary Designer Label and the UK licensing partner for Ted Baker, which is currently closing its last stores after falling into administration.
It’s currently unclear how much the firm is willing to pay for Hobbycraft.
