Kave Home Invests €45M to Double Logistics Capacity as Sales Surge 48%

A €45 Million Logistics Bet to Fuel 20%+ Growth

Kave Home, the family-run Catalan furniture and décor business, is activating the second phase of its logistics platform in Tordera (Barcelona) with a fresh €45 million investment. The project will double overall storage capacity to 90,000 square metres by late 2028, a move CEO Francesc Julià Ametller says is designed to "accompany the company's growth."

The expansion comes as Kave Home's consolidated revenue surged 48% in just two years, reaching €321 million in 2025. Julià expects turnover to grow more than 20% in the current year despite what he describes as a challenging geopolitical backdrop. The logistics hub, which entered service in mid-2023 with an identical €45 million first phase, is already running at around 90% of its maximum capacity, forcing the company to move quickly.

Kave Home has hired Austrian multinational TGW Logistics to automate the entire flow from reception to dispatch, ensuring the enlarged facility runs efficiently. A key part of the financing strategy emerged in early 2024, when the company sold the first-phase complex to German real estate manager Aquila Capital for about €100 million in a sale-and-leaseback deal. That agreement also covers the second phase once construction is complete, freeing up capital while Kave Home continues to operate the site under a rental arrangement.

The logistics upgrade parallels an aggressive international retail push. Kave Home closed 2025 with 159 points of sale and expects to surpass 200 this year, largely through franchise and distributor partnerships. New branded stores have opened in Ghent (Belgium, own store), the Dominican Republic and Serbia, with franchises slated for Peru, Norway and Iceland.

Inside the Sale-Leaseback Model and TGW Automation Deal

The Sale-and-Leaseback Advantage

By selling the Tordera platform to Aquila Capital and leasing it back, Kave Home released about €100 million in locked-up capital without disrupting operations. The same model will be applied to the second phase, meaning the €45 million construction cost is ultimately funded by the property investor rather than retained earnings. This off-balance-sheet structure allows the family firm to keep its financial firepower directed at design, marketing and store expansion rather than being tied up in warehouse bricks.

Automation at Scale with TGW Logistics

Kave Home is not just adding square metres; it is embedding end-to-end automation. TGW Logistics’ systems will handle everything from goods-in to despatch, reducing the risk that a doubling of capacity leads to a proportional spike in labour costs or error rates. For a business whose product range includes bulky furniture, the ability to process high volumes with precision is critical—especially when fulfilling orders for both e-commerce customers and a professional channel serving hotels and restaurants.

Running at 90%—The Capacity Trigger

The decision to accelerate the second phase is not speculative. With the existing facility operating near its ceiling of 90% utilisation, any further sales growth would soon hit a wall. Julià’s forecast of 20%+ revenue growth in 2026 made the investment a necessity, not a luxury. The timeline—completion by the end of 2028—suggests the company is building headroom for several years of expansion, including the ramp-up of its 200+ store network.

Franchise Model Reduces the Burden of Store Growth

While Kave Home will open some own stores, the bulk of its retail expansion relies on franchisees and distributors. This approach keeps capital expenditure low and shifts operational risk to local partners, a model well-suited to rapid expansion across varied markets like Iceland, Peru and Serbia. It also means that the logistics centre’s efficiency directly supports dozens of independent store operators who depend on reliable supply.

What Other Growing Retailers Can Learn from Kave Home's Warehouse Play

• For retailers approaching 90% warehouse utilization, a capacity expansion plan is not optional—it is a hard ceiling on future sales. Kave Home’s €45 million investment doubled its footprint, a benchmark for companies with similar revenues scaling beyond €300 million.
• The sale-and-leaseback structure unlocked €100 million while retaining operational control, a financing template for asset-heavy retailers that want to fuel growth without over-leveraging. The Aquila Capital deal shows how a property investor can fund both existing and future warehouse phases.
• Partnering with an automation specialist like TGW Logistics when doubling capacity ensures that significant space increases do not translate into linear labor or error-cost increases. This is especially relevant for furniture and other bulky-goods merchants.
• Franchise-led international expansion, as planned in Peru, Norway and Iceland, can outsource local market risk while a strong home-country logistics backbone keeps supply chains reliable for store partners.