Korea’s largest online game developer Nexon bought Norway’s Stokke AS, the maker of well-known children’s Tripp Trapp highchairs.
Nexon’s holding company NXC Corp. announced on December 15 that it acquired a 100% stake in Stokke through its subsidiary NXMH that specializes in investment based in Belgium. Although the purchase price was not made public, Norwegian media outlets reported the price to be at least US$483 million (508.6 billion won).
Founded by the Stokke family in Alesund in 1932, the Norwegian company is a leading global provider of baby and children’s products. Its main products include baby carriages, baby furniture, and car seats, and its premium stroller is extremely popular in Korea. Currently, Stokke has affiliates in 60 countries worldwide, and its Korean subsidiary was established in November 2012.
Stokke is operated by the founding family, but has proceeded with the deal through Goldman Sachs since June.