Bridgepoint Sells Hobbycraft to Modella Capital

Cleary Gottlieb has advised Bridgepoint on the sale of its majority stake in Hobbycraft, the largest arts and crafts retailer in the UK, to Modella Capital, representing a total exit from its investment in Hobbycraft.

The transaction signed and closed on August 23, 2024.

Founded in Bournemouth in 1995 and acquired by Bridgepoint in 2010, Hobbycraft has grown to a nationwide business with over 2,000 colleagues, 124 stores across the UK, and an online club with over 7 million members. It has consistently grown its profits since the COVID-19 pandemic and is a proud and regular member of the Best Companies Awards – winning #2 Best Big Company to Work For in 2023 – and was awarded three-star “World Class” status earlier this year for the fifth time. In its 2024 financial year, Hobbycraft achieved sales of £216 million and Adjusted EBITDA of £10.4 million.