MusicMagpie is the world's biggest re-seller of physical media, selling two million pre-owned books, CDs, DVDs and games a month from their Stockport headquarters. Emerging as a start-up during the last recession they experienced a period of rapid growth, and have since significantly penetrated the UK market for used personal electronics, whilst also making an impact in the US. Frontier Development Capital backed the firm with a multi-million pound investment of development capital to enable them to pursue further expansion.
Ondrej Okeke, Investment Director, Frontier Development Capital said:
"MusicMagpie are a dynamic and fast-growing international business with a strong established brand, both nationally and overseas. We are pleased to be backing a very credible management team, with an impressive, driven MD".
Investment fund - Growth Capital