Nordisk Film acquires 100% ownership of A/S

Clearwater International has advised on the sale of A/S (DK) – the leading Nordic gift card provider – to Nordisk Film A/S, a part of Denmark’s largest media group Egmont. was established in 2003 by Henrik Jung Laursen, Klavs Pedersen and CEO Henrik Ravn, and has since grown to become a leading reseller of gift cards and incentive gift solutions across the Nordic region, representing a large number of well-known retail and leisure brands. With operations in Denmark, Sweden, Norway, Finland and Poland serves a number of B2B and B2C clients.

Nordisk Film is the leading developer, producer and distributor of films in the Nordic region, and the leading cinema operator in Denmark and Norway. Nordisk Film has established a growth unit, NF Direct, focusing primarily on digital ventures within tickets, gifts and niche movie channels.

With the acquisition of, NF Direct will reach revenues above EUR 40m and more than 100 employees, and high anticipated future growth potential, since the Nordic market for gift cards is expected to double over the next five years. Henrik Ravn will continue as the CEO of

Clearwater International acted as exclusive financial adviser to the owners of in a structured sales process with high interest from several national and international buyers. Partner Andreas Lauth Lauridsen, Associate Partner Lars Thorup Gregersen and Senior Associate Louise Kamp Petersen led the process.

“We are proud to have created a profitable digital business from scratch. We are well established in Denmark and Sweden, but see potential for significant growth in our newer markets Norway, Finland and Poland. Nordisk Film and Egmont focus on digital growth businesses and have also demonstrated a clear vision within the gift segment. Along with their international presence, we see a strategic fit and a mutual ambition to realize the potential in the growing gift market – locally, in the Nordic countries and globally.”

Henrik Ravn, CEO,

“Vouchers for movie tickets are the most popular gift cards followed by gift cards to event experiences. Through the acquisition, we can help our cinemas and our many event organisers to sell more experiences while at the same time creating growth for other customers in We will also use Egmont’s presence in Norway to focus on establishing our business there…it’s a growing and developing market. has achieved a position as Nordic market leader and we can help to accelerate the growth of the company.”

Christian Lund, Director, NF Direct