A new chapter opens in Danish giant Lego’s reorganization of colorful bricks €8.6 billion in revenue, €2.2 billion in operating profit, third largest maker of children’s toys in the world It is the completion of the transition to the fourth generation. By this spring, it was Presidency Crackby Safe, which owns 75% of LegoIn fact, Thomas Kirk Christiansen will be appointed (he will have the task of representing the interests of the family), brother of Agnete and Sofie. That means the sons of Kirk Christiansen, the grandson of founder Ole Kirk Christiansen, who actually started the delivery process several years ago. Now, Patriarch Kirk Christiansen’s new move: Just over a third of the Kirkby family’s voting rights will be transferred to the nonprofit K2 Family Foundation, dedicated to supporting a more sustainable model of life. An option that appears in the same path already followed by companies such as Patagonia, whose entrepreneur Yvon Chouinard sold 98% of the company to a non-profit association, or again as the Italian company Almo Nature has chosen. The geometries and share weights are different but the principle is the same: the profits that are not reinvested in the company are destined for the project protection projects – including the environment, culture and art – that are closest to the heart of the entrepreneur.
Merlin Entertainment, Gardaland is in the portfolio
But there is more, as you mentioned financial timesAccording to the statute, the Foundation will not oppose a potential listing in the event that the Christiansen family unanimously supports an IPO project for any of its portfolio companies: in addition to Lego and Merlin Entertainment, the theme park leader (it also owns Gardaland) which has a value of more than £1.2 billion of Revenues. Until now, Lego had never wanted to hear about the stock exchange. Perhaps this taboo can be dropped.
Disney model
Indeed, Lego was the protagonist of an extraordinary phase of growth that made it one of the world champions in this segment. Not only with bricks that, thanks to huge investments in technology, have overcome the crisis brought about by the arrival of digital games. This is thanks to the combination of film productions for animation, films and animated stories that have sparked the interest of the public. Results? saw lego Revenue and operating profit growth of 60% Since 2019, with higher profitability than Hasbro and Mattel. Through Kirkbi Holdings, the Dynasty also owns Legoland theme parks, which it acquired when it bought majority of Merlin Entertainment in 2019, along with Blackstone and Canada Pension Plan. It seems that Craigby’s strategy winks at Disney’s. New Legoland Discovery Centers, with character creation and stories being marketed across multiple channels, point in that direction. On the stock exchange, says the Financial Times, Merlin could be worth $8.5 billion. Lego – first in the world in terms of ‘reputation’ according to RepTrack – could benefit from approximately €30 billion, equivalent to 11 times operating result, the multiplier applicable to toy manufacturers.
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