Kim Jung-Joo, the founder of Nexon Corporation as well as the current President of NXC Corporation, has purchased an overseas stroller company Stokke AS.
Numerous foreign press, including the Bloomberg L.P, announced on the 13th that NXMH BVBA’s (NXC’s investment focused branch) Belgian office became the official owner of the Norwegian infant merchandise company Stokke AS. The official transaction amount was not revealed, but foreign press are estimating the transaction to be around 472 million US dollars.
Stokke AS is a company established in 1932 that has been producing high-end infant merchandise such as strollers and infant beds, and is present in over 60 countries across the globe. An NXC personnel has commented that “NXMH BVBA is a very creative company and it has been investing in many companies that contribute to the society. This purchase is one based on same principals, and it has been in preparation since Q2 of 2013.”
A Nexon personnel has also commented on this purchase saying that “Stokke AS is a company that contributes to the society by producing quality infant merchandise. We think that the intentions of Stokke AS and that of ours is similar in that both provide services in the interest of children; and it is because of this that we expect great synergy between the two companies.” Nexon also spoke highly of Stokke AS’ stability and its vision for the future.
Now that the transaction is complete, NXC plans to fully support the growth of Stokke AS. A Nexon personnel commented that: “We plan to respect the experience that Stokke AS has accumulated, and we plan give all the aid we can in helping it become prominent in the global market. We plan to assist Stokke AS’ current executives in achieving this dream.”
With the previous purchase of Lego trading site ‘BrickLink’ back in June, this is the second time that NXC purchased a non-gaming company this year.