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TvilumFactory
Tvilum has been rescued by a consortium of investors
Embattled flatpack furniture maker Tvilum has been rescued in a deal that consolidates the ownership of Denmark's case goods manufacturing sector.

 

Viking Trading, parent company of Tvilum rival Steens, formed a three-way consortium to save the ready-to-assemble cabinet furniture manufacturer.


The other parties comprise the founding Kristiansen family — which sold up nearly 20 years ago — and Tvilum's new CEO Torben Porscholdt, who joined the business late 2017.


The deal, terms of which were not disclosed, saves 500 of 600 jobs in Denmark, at its factories in Fårvang and Kjellerup. It also gives the new venture the option to buy Tvilum's Polish subsidiary.


Viking Trading is the majority shareholder in the new company with Torben Porscholdt having a minority stake. The Kristiansen family will be represented with a seat on the board of the company.

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