Investment group Modella Capital has acquired arts and crafts retailer Hobbycraft from Bridgepoint, which had owned the company since 2010. The financial details of the transaction were not disclosed. Hobbycraft operates 124 stores and employs around 2,000 people across the UK, generating £216 million in sales last year.

Hobbycraft's CEO, Dominic Jordan, praised Modella Capital for their retail sector expertise and growth capital, calling them an ideal partner. Bridgepoint had put Hobbycraft up for sale in February and reported that the retailer achieved an adjusted EBITDA of £10.4 million for the financial year ending in 2024.

During Bridgepoint's 14-year ownership, Hobbycraft's store count more than doubled from 47 to 124, with plans to open seven more stores in 2025. Modella Capital's managing director, Joseph Price, expressed enthusiasm for accelerating Hobbycraft's growth strategy through investments in physical stores and enhancing returns from existing sales channels, including online.

Modella Capital, known for investing in retailers like Paperchase and Tie Rack, is affiliated with turnaround firm Rcapital. Rcapital has previously owned Little Chef and invested in No Ordinary Designer Label, the UK licensing partner of Ted Baker, which recently appointed administrators.

Aaron Collins, a director at Bridgepoint, commended Hobbycraft's growth and the dedication of its team, expressing confidence in the retailer's future success under Modella Capital's ownership.