Bonhams announces acquisition of Bukowskis

The First Art Newspaper on the Net    Established in 1996 Wednesday, May 29, 2024

Bonhams announces acquisition of Bukowskis
Bukowskis flagship saleroom in Stockholm, Sweden. Photo: Bonhams.

LONDON.- Bonhams, the global auction house, has acquired Bukowskis, the leading auction house in the Nordic region. Financial terms are not being disclosed.

Established in 1870, Bukowskis, with its flagship saleroom in Stockholm, is a renowned company throughout Scandinavia. During recent years, it has built on its foundations as a much-loved and respected brand to transform itself into an innovative digital presence that attracts more than one million users every month. Last year, Bukowskis sold 11 out of the 15 most valuable artworks in the Swedish market – including achieving the highest price for a Swedish artwork ever sold at auction – as well as several prestigious collections. In addition to selling fine art and collectables at its salerooms in Stockholm and Helsinki, Bukowskis has extended its global reach digitally through its app and website presence.

The acquisition will enhance Bonhams’ European scale and increase digital capabilities to support further growth across the Bonhams network.

Bonhams was acquired by the UK-based private equity firm, Epiris, in September 2018. Since then, there has been substantial investment at Bonhams in the areas of digital, marketing, and recruitment. To further its European presence, Bonhams opened a saleroom in Paris in Rue de la Paix in 2021.

Bruno Vinciguerra, CEO of Bonhams, said: “Bukowskis has a renowned heritage. Bonhams’ acquisition of such a celebrated auction house is an important part of our strategy to further the development of Bonhams into a digital leader and a truly global player with a balanced presence across the US, Europe and Asia. We are delighted to welcome Louise Arén and the entire Bukowskis team to the Bonhams family.”

Louise Arén, Chief Executive of Bukowskis, said: “Bukowskis has become an industry leader in digital transformation. With Bonhams' global reach, we can further build upon our position as the leading auction house in the Nordic region. An exciting journey has just begun.”

Hans-Kristian Hoejsgaard, Chairman of Bonhams, said: The acquisition of Bukowskis is an important step in our vision for Bonhams to become the world’s local auction house. Bukowskis’ incredible history and digital accomplishments makes it an ideal partner and member of the Bonhams family.”

Owen Wilson, Partner at Epiris, said: “We are very excited to welcome Bukowskis to Bonhams. The business has built an incredibly strong reputation in the Nordics, and we see tremendous opportunity for both it and Bonhams in this union: greater international reach for the former, and greater European scale and presence for the latter. We are looking forward to working with Louise and her team to develop Bukowskis further.”

Alex Fortescue, Managing Partner at Epiris, said: “Since 2018, we have been working to drive the transformation of Bonhams into a global, digitally enabled auction business through investment in people, technology and now M&A. The acquisition of Bukowskis is a significant further step in this transformation.”

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