They say Scandinavia is among the happiest regions on earth. That may be true, but Lise Lauritzen, of IDÉ House of Brands, and Thomas Davidsson, CEO of Wackes AB, are happier than usual today. Norway-based IDÉ House of Brands has signed a letter of intent to acquire Wackes AB, which expands its presence in Sweden.

IDÉ House of Brands’ purchase of Wackes AB is expected to be finalized in December. Clockwise from back left: Anders Ekvall, CEO of IDÉ Sweden; Tomas Olsson, COO of Wackes; Thomas Davidsson, CEO of Wackes; Lise Lauritzen, CPO at IDÉ; and Nina Lauritzen, CEO of IDÉ Norway

With 35 years of experience in development, design, production and logistics, IDÉ is a leading promotional products supplier in the Nordic region. The company offers a wide variety of items, including workwear, gifts and office supplies. According to IDÉ, the acquisition will strengthen its presence in Sweden – where Wackes AB was founded in 1983 – and help fuel its expansion across Europe.

Wackes is a leading provider of promotional items for medium and large businesses; clients include Nestlé, UNICEF and L’Oréal, and it has offices in Borås, Gothenburg, Malmö, Stockholm, Helsinki, Oslo and Shanghai.

“The acquisition was made with both heart and mind,” says Lauritzen. “Wackes is a company we have always held in high regard. We share similar ways of working, and both companies place customer relationships at the core of everything we do.”

Both Lauritzen and Davidsson believe the acquisition will lay the groundwork for the joint company to lead the way in sustainability, product safety and secure supply chains.

The companies expect to finalize the transaction in December, pending any customary closing conditions.