Through its subsidiary Gandalf Distribution AB, ELKO Group has secured a significant foothold in the circular economy by purchasing nearly 79% of Renewed AB’s shares. This Stockholm-based electronics recommerce company has developed impressive operational capabilities covering full device lifecycles across multiple product categories including smartphones, laptops, and wearables. With €12.3 million in 2024 sales and a robust regional network of service partners, Renewed AB represents a valuable addition to ELKO’s business portfolio.

The timing aligns perfectly with explosive growth in the refurbished electronics market, which analysts predict will expand at over 10% compound annual growth rate through 2030. This growth trajectory, driven by increasing consumer interest in sustainable options, positions ELKO to capitalise on an industry segment that consistently outperforms new device sales. The acquisition represents a calculated entry into circular economy opportunities that complement ELKO’s existing distribution strengths.

ELKO Group CEO Svens Dinsdorfs emphasised the strategic rationale behind the acquisition, noting how recommerce brings specific challenges requiring specialised expertise. He praised Renewed’s bootstrapped growth model and innovative offerings to Nordic market leaders as exemplary approaches worth expanding across ELKO’s geographical footprint. The combination of ELKO’s established infrastructure with Renewed’s specialised knowledge creates powerful opportunities for channel partners to succeed in the recommerce space.

For Renewed AB, joining forces with ELKO Group accelerates their ambitious growth trajectory according to CEO Benjamin Kibebe. Having established strong brand recognition and diverse capabilities across multiple sales channels, Renewed now gains access to ELKO’s industry expertise and substantial resources. This partnership enables faster international expansion and creates new synergies that will strengthen both their direct-to-consumer platform and business-to-business partnerships, marking a pivotal development in Renewed’s evolution as a recommerce industry leader.