Swedish outdoor brand has new owners
Hong Kong-based private equity firm LionRock Capital has acquired Swedish outdoor brand Haglöfs. The brand, founded in Sweden in 1914, has been a wholly owned subsidiary of Japanese sports group ASICS since 2010.
LionRock completed the deal on December 18 and said it viewed Haglöfs as a good fit with its existing portfolio and with its strategy of acquiring “well understood heritage brands with best-in-class products”. The group has a minority stake in football club Inter Milan and a majority stake in footwear group Clarks.
Former Olympic gymnast, entrepreneur and chief executive of his own-name sports brand Li Ning acquired a 51% stake in LionRock in 2021 and is now its non-executive chairman.
Head of LionRock’s business in Europe, Tom Pitts, said at the time of this latest announcement: “Haglöfs thinks differently, takes action and is willing to stand apart from others. An unwavering consideration for the next generation drives Haglöfs to produce quality products that are made to last.” He said this shaped the Swedish brand’s “entire business approach”.
For his part, Haglöfs chief executive, Fredrik Ohlsson, said: “ASICS has been a supportive and actively involved partner, providing invaluable assistance throughout our journey together. We are thrilled to start a new chapter with LionRock as our shareholder and are looking forward to becoming part of the LionRock family.”