Trunki kids' suitcase brand is sold by founder for £12m+

By

Nigel TAYLOR

Published
Feb 6, 2023

Children’s suitcase brand Trunki is being sold in a deal thought to be worth over £12 million.

The sale of its parent company, Magmatic, to digital firm Heroes, whose focus is on pregnancy and baby brands, is expected to be announced Tuesday.

The sum has not been disclosed but is likely to be well in excess of the £12 million that Magmatic was valued at a decade ago, when a stake was sold to investment company BGF.

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And the price tag comes after the business has sold over five million kids’ ride-onsuitcases and built a successful portfolio of travel gear, with the group’s revenue growing 68% to reach £6.4 million in 2022. Not bad after founder Rob Law was once told his company was “worthless” on the BBC’s television programme Dragon’s Den.

Law told City AM he will remain as general manager and the company’s 60 employees will keep their positions.

He said: “It will be business as usual, but the Heroes team will bring great technology that will help us to accelerate our digital sales and expand to America. There is a great opportunity to not only grow Trunki but help other brands acquire scale as-well.” 

Trunki will become Heroes’ 35th brand and it is understood the company was keen on core brand because it extends its portfolio beyond babies into products for pre-school children. Heroes is expected to expand Trunki, which also makes kids’ backpacks, into the US.