Axcel reaps reward from partial exit from Danish jeweler Pandora


Danish private equity firm Axcel has completed a partial exit from jewellery retailer Pandora, selling a 15.4 per cent stake alongside the company’s founding Enevoldsen family.

The backers sold a combined 20 million shares for DKK4.9bn (€657m). Axcel will continue to hold a 17.6 per cent stake in the company.

Founded in 1982 and headquartered in Copenhagen, Pandora employs over 7,300 people worldwide of whom 5,200 are located in Gemopolis, Thailand, where the company manufactures its jewellery. The company is listed on the Nasdaq OMX Copenhagen stock exchange in Denmark. In 2012, it recorded total revenue of DKK6.7bn (€900m).

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