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Georg Jensen to Change Hands

Copenhagen silver smithy turned “Scandinavian luxury lifestyle brand” Georg Jensen is set to get a new owner in Investcorp. The private equity firm has agreed to pay $140 million to acquire the retailer from Axcel Capital Partners, which gained ownership of Georg Jensen in 2001 as part of its purchase of Royal Scandinavia Group. Investcorp plans to bring on David Chu, founder of Nautica, as chief creative director and co-chairman of the board, according to a statement issued yesterday. Founded in 1904 by the eponymous silversmith (that’s his Magnolia collection at right), Georg Jensen had 2011 revenue of 914 million Danish kroner (approximately $160 million at current exchange), half of which comes from jewelry sales.

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