Modella Capital, which bought WHSmith’s high-street business last year and renamed it TG Jones, is close to acquiring Flying Tiger Copenhagen, adding roughly 900 stores to its retail portfolio. The investment fund is near a deal with owners Danske Bank and Nordea, and The Times reported an announcement could come soon.
Flying Tiger sells low-price Scandinavian homeware, stationery, toys and novelty gifts across about 900 stores, including 80 in the UK, in nearly 30 European markets plus franchises in the Philippines, Vietnam and Israel. The retailer posted 2024 turnover of DKK 5.2 billion, about £600 million. Modella, led by chairman Steve Curtis and managing director Joseph Price under Jamie Constable’s Hay Wain group, already owns Hobbycraft, Claire’s, The Original Factory Shop and the ex-WHSmith high street business.
Why it matters for the pet industry
Flying Tiger’s novelty gifts, toys and low-price accessories sit a shelf away from impulse pet toys, chews and treats at the checkout. A private-equity roll-up of 900 stores gives Modella scale to add private-label pet accessories and impulse treats, squeezing specialist pet impulse sales at high-footfall locations.
Modella’s track record is mixed, as Claire’s and The Original Factory Shop entered administration, so pet brands partnering for whitespace must weigh counterparty risk. Still, the footprint is a distribution channel pet novelty suppliers should court before competitors do. Flying Tiger’s gift-led footfall also overlaps pet-gift occasions such as adoption and holidays, a cross-sell pet brands should not ignore.
What to watch
- Whether Modella adds private-label pet accessories to Flying Tiger in 2026.
- If the ~900-store footprint lifts impulse pet treat sales.
- How Modella’s TG Jones restructuring affects supplier terms.
FAQ
How many stores would Modella add via Flying Tiger?
Modella Capital is close to acquiring Flying Tiger Copenhagen, adding roughly 900 stores to its retail portfolio. Flying Tiger sells low-price Scandinavian homeware, stationery, toys and novelty gifts across about 900 stores in nearly 30 European markets plus franchises in the Philippines, Vietnam and Israel, with 2024 turnover of DKK 5.2 billion.
How could Modella expand pet novelty retail via Flying Tiger?
Flying Tiger’s novelty gifts, toys and low-price accessories sit a shelf away from impulse pet toys, chews and treats at the checkout. Modella’s 900-store roll-up gives it scale to add private-label pet accessories and impulse treats, squeezing specialist pet impulse sales at high-footfall locations while its gift-led footfall overlaps pet-gift occasions.
Does Modella’s track record raise pet supplier risk?
Modella’s track record is mixed, as Claire’s and The Original Factory Shop entered administration, so pet brands partnering for whitespace must weigh counterparty risk. Still, the roughly 900-store footprint is a distribution channel pet novelty suppliers should court before competitors, since Flying Tiger’s gift-led footfall overlaps pet-gift occasions such as adoption and holidays.
Source intelligence adapted for the GlobalPetIndex pet-industry audience. Original publication: external brief.
