Tripp Trapp chairs sold to Korean web mogul

The Local
The Local - [email protected] • 13 Dec, 2013 Updated Fri 13 Dec 2013 09:53 CEST
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The Norwegian maker of the Tripp Trapp, one of Europe's most popular children's high chairs, has been sold to a South Korean web entrepreneur for about three billion kroner ($484m).

Kim Jung-Joo, the founder of Nexon, a South Korean computer game company, has agreed to buy the company, as he seeks to diversify his holdings. 
 
"He has decided to buy some European brands that have great potential in Asia, and Stokke was actually at the top of his list," Wilhelm Mohn, Stokke's chairman, told Norway's Finansavisen. "We think it is exciting that we are combining with an Asian actor with broad experience online." 
 
US investment bank Goldman Sachs has been managing the sale for the Stokke family, which has owned the business since 1932. 
 
Kim will buy the company through his Belgium-based investment company NXMH. 

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