PriceRunner acquires Prisguiden in Norway
PriceRunner acquires PrisguidenPriceRunner has today entered into an agreement to acquire Prisguiden, Norway’s second largest player in comparison shopping[1]. Through the acquisition, PriceRunner expands its operations to Norway and thereby strengthens its position as the largest comparison-shopping service1 in the Nordics.
Prisguiden was founded in 1998 under the name hardware.no. Today, Prisguiden is used by more than 1 million consumers every month and presents information from more than 500 shops. Its revenues grew by 59 percent in 2020 to almost NOK 37 million (£3m), with an EBITDA-margin of 44 percent.
PriceRunner already offers comparison services for consumer products in Sweden, Denmark and the United Kingdom. Prisguiden will initially continue to operate under the current brand and platform. A complete integration will proceed during 2022 that in the future is expected to contribute with platform and cost synergies.
“Prisguiden is a rapidly growing business with a strong brand in Norway. The company offers a good service and a strong team that collaborates with impressive efficiency. The acquisition is completely in line with PriceRunners’ growth strategy and is a logical next step in our international expansion”, said Nicklas Storåkers, CEO of PriceRunner.
“PriceRunner is a strong brand in the Nordics with a scalable technology platform and a clear plan for continued growth. We look forward to being part of PriceRunner and together continue to guide consumers to find the best available products and deals”, said Amund Espelien, CEO of Prisguiden.
The seller is Kistefos-owned 1881 Group AS and the company CEO Amund Espelien.
Completion is expected during October.
[1] Excluding Google Shopping
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Media contacts
Nicklas Storåkers, CEO PriceRunner
nicklas.storåkers@pricerunner.com
070-861 80 01
Gunnar Jacobsen, Investment Director Kistefos AS
gunnar.jacobsen@kistefos.no
Kistefos is a privately owned investment company owned by Christen Sveaas. The business consists of wholly and partly owned industrial companies in banking and finance, offshore, shipping and TMT. Kistefos also has strategic investments in various listed and unlisted companies. For more information, please visit www.kistefos.no.
About PriceRunner
PriceRunner was founded in 1999 and is the UK’s largest comparison service with 2.2 million products from 5,900 retailers in 21 different countries, who all deliver to the UK. The company has 160 employees in Stockholm, Sweden and Nykøbing Falster, Denmark. Our services are used every month by consumers who can compare products, prices, specifications, read professional product tests and consumer reviews of products and retailers. PriceRunner is a completely independent company. We are not owned by any manufacturers and are not dependent on them, retailers or other organisations with an interest in providing biased information. Our goal is to help consumers find the right products to the best prices. Every month, we help consumers find better and cheaper products while saving money by using PriceRunner's services.
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