Matas acquires KICKS Group from Axel Johnson - creates the leading beauty group in the Nordics

Axel Johnson sells KICKS Group after 21 years as owner. Matas is Denmark’s leading beauty chain, and the transaction creates Northern Europe's leading beauty constellation, which will strengthen Matas, KICKS and Skincity's respective customer offerings. Matas intends to continue developing KICKS and Skincity as separate brands.

Matas is Denmark's leading beauty player with 260 stores in Denmark and the Faroe Islands. Matas has more than 2 000 employees and a turnover of 4.5 billion Danish kroner (around 7 billion SEK).

The cosmetics chain KICKS was founded in 1991 and became part of Axel Johnson in 2002. In early 2023, KICKS and Skincity were merged into KICKS Group, with a total turnover of 4.5 billion Swedish kronor (2022), of which nearly one-third came from online sales and the rest from the 230 physical stores.

Axel Johnson has shown significant growth and renewal in recent years, pursuing the company's 10/50 goal. Last year, a turnover of SEK 118 billion kronor was achieved, while the company recorded its strongest results to date. Through this deal and the previous sale of Åhléns (August 2022), Axel Johnson has significantly reduced its presence in consumer facing discretionary retail.

Gregers Wedell-Wedellsborg, CEO of Matas:
"KICKS Group and Matas are an excellent match in terms of markets, commercial capabilities, positioning of premium brands, growth ambitions, and not least a shared culture of excellent customer offerings and service. I am truly delighted to welcome KICKS Group's talented employees. Together, we will become the largest Nordic player, benefiting both our customers, colleagues, and shareholders."

Mia Brunell Livfors, CEO of Axel Johnson:
"KICKS has managed to grow and improve results both during and after the pandemic. With KICKS Group, including KICKS and Skincity, now becoming part of Matas, we create the absolute leading beauty group in Northern Europe. It has been incredibly exciting to be part of developing KICKS Group from a retail chain with modest e-commerce to an omni-channel player with a leading customer offering in all channels, together with management and employees. I am confident that this deal will strengthen KICKS and Skincity's customer offerings.

This deal also reflects the renewal and strategic direction that Axel Johnson is pursuing, where we have become a larger, stronger, and more diversified group with a balanced distribution between B2B and consumer businesses, and where consumer discretionary retail is a smaller share of our group. In addition to our focus on food through Axfood and Martin & Servera, we have strong platforms in our industrial group Axel Johnson International and as a major shareholder in Dustin. Furthermore, we have significant ambitions in structurally growing areas related to major macro trends of our time, such as solar energy, future food, digital products and services and health."

For more information: Mia Brunell Livfors can be reached through David Salsbäck, Axel Johnson’s Executive VP Communications & Sustainability, 0733 89 00 90, david.salsback@axeljohnson.se