Kirk Kapital becomes sole owner of European Stonecraft
Kirk Kapital has acquired the remaining shares in European Stonecraft from co-shareholder DS Europe, taking full ownership to support the company’s next phase of growth and consolidation.
Kirk Kapital has acquired the shares held by co-shareholder DS Europe in European Stonecraft and has thereby increased their ownership from 45% to 100% ownership of the company. The transaction marks a new chapter in a partnership that began in 2020, when Kirk Kapital first invested alongside DS Europe to help build and develop the business.
Together, the two partners have grown European Stonecraft into a solid group within natural stone products and related services, with a leading position in its core markets and an established platform within its tombstone business for further expansion across Northern Germany. Building on this foundation, Kirk Kapital will now take full ownership to continue the journey, with a clear ambition to support the company in its continued growth and consolidation.
Taking a majority position represents a deliberate exception to Kirk Kapital’s usual approach as a minority partner. The decision follows naturally from the existing partnership and reflects Kirk Kapital’s long-term commitment to European Stonecraft and its conviction in the company’s potential.
“We have had a good and constructive collaboration with DS Europe, and together we have built a solid business that we are proud of. We now look forward to continuing the journey with European Stonecraft and to building further on its strong foundation together with the company and its people,” says Kim Gulstad, CEO, Kirk Kapital.
In connection with the transaction, Peter Rønne is appointed CEO of Danske Stenhuggerier, the largest subsidiary of European Stonecraft. He brings more than 17 years of experience in large-scale retail operations in Denmark and Germany, most recently as Regional Director at Lidl Denmark and with extensive prior experience from Lidl in Germany. He succeeds interim CEO Carsten Sjørvad, who continues as a member of the board.
“I am very much looking forward to working together with all the talented colleagues at Danske Stenhuggerier and with our many partners to develop the business further,” says Peter Rønne, CEO, Danske Stenhuggerier.
CEO in JJO Invest, the parent company of DS Europe, and interim CEO in Danske Stenhuggerier Carsten Sjørvad, expressed his appreciation for the partnership and his confidence in the company’s future under Kirk Kapital’s ownership.
“We would like to thank Kirk Kapital for a strong partnership over the years. We are proud of the business European Stonecraft has developed into, and we wish the company and its continuing owner every success going forward,” says Carsten Sjørvad, CEO, JJO Invest.
The transaction remains subject to customary regulatory approvals.
About European Stonecraft
European Stonecraft is a group of companies specializing in natural stone products and related services, headquartered in Nørre Snede, Denmark. Its core business is the sale of tombstones, with a nationwide presence in Denmark and a growing footprint in Northern Germany. The group also includes activities within sandstone restoration of historical buildings, stone processing and bronze decorations.
About DS Europe
DS Europe A/S is a subsidiary to JJO Invest, an active investment company headquartered in Ikast, Denmark. JJO Invest makes active, long-term investments and takes part in the strategic development of its portfolio companies as an operational and management partner. Its portfolio spans companies within construction, real estate, forestry, energy and hospitality.
About Kirk Kapital
Kirk Kapital is a family-owned investment company managing capital with a long-term focus on strategic minority investments in market-leading companies in Scandinavia, along with a diversified portfolio of financial investments. Headquartered in Vejle, the company was founded by the Kirk Johansen family, descendants of LEGO founder Ole Kirk Christiansen. Kirk Kapital has 17 active strategic investments and manages approximately EUR 4 billion in assets under management.