Flying Tiger snapped up by TG Jones owner Modella Capital

(Sharecast News) - Private equity firm Modella Capital has purchased Flying Tiger Copenhagen, marking another move to snap up space on British high streets following the recent acquisition of WH Smith.

Modella announced on Wednesday that it has acquired the Danish retail brand from Danske Bank and Nordea, with the current owners thought to have been exploring a sale since the start of the year.

Flying Tiger currently runs over 1,100 stores in 44 countries, including around 80 stores in the UK where it employs over 1,000 staff.

In the summer of 2025, Modella took over the high street business of WH Smith, now named TG Jones, but has since announced a restructuring plan that will see up to 150 stores close.

Following the collapse of Modella-owned Claire's and The Original Factory Shop earlier this year, and major restructuring actions taken at Hobbycraft, have raised concerns among Flying Tiger's UK workforce.

However, Modella said it was backing Flying Tiger's existing management, led by new chief executive Jens Aarup Mikkelsen who joined the company just three months ago.

"Flying Tiger Copenhagen is a hugely exciting opportunity for Modella Capital," said Joseph Price, managing director of Modella.

"With its strong retail brand, and a unique product offering that has built a loyal customer base across more than 40 countries, Flying Tiger Copenhagen is a business with tremendous potential. We are pleased to be investing in its future, and we look forward to working closely with the management team to provide the stability, capital and retail expertise the business needs to fulfil its growth plan."