Flying Tiger Set for Modella Takeover

Private equity firm Modella Capital is reportedly close to acquiring Flying Tiger Copenhagen, marking another major move in its growing presence on the British high street.

According to reports, negotiations between Modella and Flying Tiger’s owners, Danske Bank and Nordea, are at an advanced stage, with an official announcement expected soon.

Flying Tiger Copenhagen, known for its affordable stationery, playful home décor, and maze-style stores reminiscent of Ikea, operates about 900 locations globally, including roughly 80 across the UK. The retailer generated more than 5.2 billion Danish kroner (around £600 million) in revenue during 2024 and employs thousands worldwide.

The potential takeover would significantly broaden Modella’s international footprint. Flying Tiger manages stores in 30 European countries and also operates franchise businesses in markets including the Philippines, Vietnam, and Israel.

The Danish retailer experienced a leadership and ownership restructuring earlier in 2025, bringing control under a group led by former chief executive Martin Jermiin, finance executive Christian Kofoed Hertz Jakobsen, and lenders Danske Bank and Nordea. The company is now led by CEO Jens Aarup Mikkelsen, while advisers have been assessing sale options since the beginning of the year.

Flying Tiger began in Copenhagen in 1995, though its origins trace back to founders Lennart and Suzanne Lajboschitz, who first ran an umbrella business during the 1980s.

For Modella, the deal would add to a growing list of retail acquisitions. The investment firm has purchased several high street brands in recent years, though some have faced significant challenges after takeover. Claire’s Accessories entered administration soon after being acquired, while Original Factory Shop also faced restructuring efforts.

Modella’s ownership of former WH Smith high street stores has drawn particular attention. After purchasing 480 locations for £40 million and rebranding them as TG Jones, the company is now preparing a substantial restructuring that could lead to the closure of up to a quarter of those stores. Modella argues the measures are necessary to prevent insolvency, although reports suggest TG Jones is paying significant fees to use the new brand identity.

Originally established as Tailer Debtco in 2022 before rebranding as Modella the following year, the firm is owned by Hay Wain Group, a family investment office founded by turnaround specialist Jamie Constable. Retail investor Steve Curtis serves as chairman, while Joseph Price holds the role of managing director.