Hobbycraft ‘on the point of sale’ to Modella CapitalToy World Journal

In accordance with stories, Modella Capital is within the superior levels of shopping for certainly one of Britain’s main arts & crafts retailers, Hobbycraft.

Modella Capital is in superior talks to purchase Hobbycraft from the personal fairness agency, Bridgepoint. Sources have acknowledged that the deal could possibly be signed inside the subsequent few days.

Based in 1995, Hobbycraft has greater than 85 shops and has been owned by Bridgepoint since 2010. Rumours a couple of attainable sale first surfaced earlier this 12 months, though it was steered on the time that the sale value would create a shortfall for Bridgepoint.

On its web site, Modella Capital lists its portfolio of investments, together with No Unusual Designer Label, the licensing accomplice of Ted Baker within the UK, which collapsed into administration earlier this 12 months. Modella can be affiliated with Rcapital, a former proprietor of Little Chef.

It’s nonetheless unclear how a lot Modella can pay for Hobbycraft on this deal, or whether or not there are others ready to step in if it falls by means of.

Bridgepoint declined to touch upon the matter and Modella couldn’t be reached.