Thunderful Offloads Nordic Game Supply to Acting CEO's Firm

Thunderful Group has decided to sell its distribution arm, Nordic Game Supply, to a company led by its acting CEO, as part of its efforts to restructure the business. The decision follows a strategic review initiated earlier this year after Nordic Game Supply's struggles with profitability since 2022 significantly contributed to Thunderful's $59.2 million loss, a stark contrast to the $11.8 million profit recorded in the same period the previous year. The buyer, Handelsselskabet, is owned by Henrik Mathiasen, who is also the CEO of Bergsala, another distribution company under Thunderful that exclusively distributes Nintendo products in the Nordic and Baltic regions. The sale price will be determined based on the inventory's book value, adjusted for a 28% discount, and will be finalized upon completion of the transaction. Notably, all employees of Nordic Game Supply will retain their positions, and the company's existing relationships with customers and suppliers will remain intact. Thunderful was advised on the transaction by ABG Sundal Collier, with legal counsel provided by Gorrissen Federspiel and Setterwalls.