Modella Capital has agreed to acquire Flying Tiger Copenhagen, marking its boldest move yet to construct an international high-street retail platform. The London-based private equity firm, part of the Hay Wain Group family office led by Jamie Constable, has rapidly built one of Britain's most active retail portfolios over the past 18 months.

Flying Tiger Copenhagen operates across nearly 30 European markets and maintains franchise partnerships in the Philippines, Vietnam, and Israel. The retailer generated 5.2bn Danish krone (approximately $760m) in 2024 revenue, having previously been owned by EQT Partners since 2012 before lenders Danske Bank and Nordea took control following a 2025 restructuring.

Modella will support Flying Tiger's existing plan to open more than 700 new franchise stores by 2030, representing a shift toward growth-led expansion rather than the cost-focused restructurings that have defined its UK investments. This acquisition provides genuine international scale as its British operations face mounting pressure from tax increases and weakening consumer confidence.

The deal contrasts sharply with Modella's existing portfolio, where Hobbycraft and Claire's Accessories have entered administration while WH Smith's former UK arm, now branded TG Jones, faces potential closure of up to 150 stores. Flying Tiger's franchise-led model offers a capital-efficient growth alternative to the heavily leveraged store estates Modella inherited elsewhere.