A well-known furniture company has completed the purchase of an upholstery manufacturer, strengthening its position in the Scandinavian market. The acquisition is expected to enhance product offerings and provide access to new markets.
Photo: Nordic-C.
Danish manufacturer Top-Line has acquired Nordic-C, a 48-year-old company recognised as the supplier of "Scandinavia's best-selling senior chair." Nordic-C specialises in the Living, Tradition, and Designsofa product lines, all of which align with Top-Line's focus on Scandinavian design and functionality.
CEO Claus S. Nørgaard stated that the acquisition presents "a unique opportunity" for both companies, as the two businesses complement each other well. He highlighted the synergies between their product lines and the valuable industry expertise Nordic-C brings.
Despite this expansion, Top-Line has faced significant financial losses in recent years. In 2023/24, the company reported a deficit of DKK 14.4 million, following a much larger DKK 52 million loss in the previous financial year. These setbacks led to job cuts and employee pay reductions.
Chairman and founder Svend Ø. Pedersen expressed optimism about the company's financial recovery, citing improvements in efficiency, price adjustments, and digitalisation. He stated that while "not at the finish line yet," the company is in a much stronger position than the previous year.
Top-Line primarily sells upholstered furniture across Europe, with Scandinavia as its largest market. Its core operations include development, production, and sales from factories in Poland. The company expects the acquisition of Nordic-C to strengthen its position and contribute to its long-term financial stability.
Source: www.wood-supply.dk