The Danish bakery chain Lagkagehuset is enjoying an enviable growth spurt. Sales increased by 18 percent last year, according to finans.dk, and the company, which already has stores in Britain, is now eyeing the US. It plans to open a store in New York City this year.
The chain was founded in Christianshavn by baker Ole Kristoffersen in the mid-1990s. The Christianshavn location was a huge success, and in 2008 Kristoffersen collaborated with Jutland baker Steen Skallebæk, who enjoyed a similar success story in southern Jutland.
The two quickly opened a number of stores, and the Norwegian capital fund FSN invested in the project. The Norwegian concern bought 70 percent of the business.
The new owners immediately announced it was their intention to grow the brand internationally. They opened stores in England, where they are dubbed ‘Ole and Steen’.
Rising profits
The company continued to grow, and in 2017, Lagkagehuset was sold to Nordic Capital. According to Børsen, the purchase price exceeded 1 billion kroner.
Lagkagehuset head Jesper Friis said the company is looking forward to “exporting a small piece of Danish cultural history” when the US location opens in Manhattan this year.
