Norwegian expat earns 150 million NOK

The buyer Ekornes is probably best known for their Stressless furniture you see above.

Selling his company is probably going to provide Nils Gunnar Hjellegjerde with a rather significant plus on his bank account. Hjellegjerde is the CEO of Internasjonal Møbel Gruppe (IMG) an upholstered furniture company that has been sold to its competitor Ekornes. The sale of IMG was finalized Monday the 4th of August.

According to Norwegian newspaper Finansavisen, Ekornes paid 400 million NOK for IMG. Being the main shareholder Nils Gunnar Hjellegjerde is estimated to walk away from the deal with at least 150 million NOK.

Hjellegjerde is from Norway but has lived in Thailand about 10 years. Between 2005 and 2007 he was the president of the Thai Norwegian Chamber of Commerce. While IMG has its marketing office located in Norway the factories are located in Thailand and Vietnam. As a part of the contract with Ekornes he has agreed to act as a consultant for the next three years, helping with product- and marketing development.

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