Sun, 10 Jul 2011 | BUSINESS SALE
The London Mint Office, which sells souvenir coins, may be put on the market soon if its Norwegian owner, Samlerhuset, decides to move down the trade sale route after appointing strategic advisers.
Samlerhuset was set up in Oslo in 1994 and is reportedly about to appoint DC Advisory Partners to examine options for the firm, which includes listing the business for sale. The company is said to be worth around £130 million and is one of the largest direct marketing companies in Europe and focuses on sales of medals, stamps, banknotes as well as coins. Over the years the firm has fielded a number of complaints both in the UK and in Norway about its aggressive and sometimes misleading advertising practices.
Other possible strategic options include raising an additional tranche of capital to fund future growth and allow the few individual investors in the business to cash in some of their shares.
The company’s UK arm, The London Mint Office, sells gold sovereigns and collectible coins marking national and Royal occasions including Queen Elizabeth II Royal Jubilee, Prince William and Catherine’s engagement and subsequent wedding and the 2012 Olympic Games in London. The UK division notched up around £22m sales in 2009, a 50 percent increase over the previous year.
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