Procuritas invests in Polarn O. Pyret to push sustainability in the clothing industry
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Procuritas Capital Investors VI (“Procuritas”) has acquired Polarn O. Pyret AB, the iconic Swedish children’s clothing brand, for a SEK 330 million (€33 million) on a cash and debt-free basis. Procuritas will support the company’s growth and push the boundaries for sustainability in the clothing industry.
Polarn O. Pyret is a true Swedish icon that has been a leader in children’s clothing since 1976. Internationally recognized for high quality, functional design and engagement for sustainability, the company sells kids’ clothes made to last in the Nordics as well as globally.
Polarn O. Pyret is headed by Johan Munck, an experienced CEO and driver of change in retail and digital consumer businesses. “We are excited about having Procuritas as our partner since they share our passion for long-term sustainability. We have worked hard during the difficult past year to build on our many strengths and increase our focus on e-commerce, and it is testament to the brand’s strength and resilience that we are in a good position to grow. We look forward to working with the Procuritas team to fulfil Polarn O. Pyret’s potential to push boundaries for sustainability in the clothing industry”, says Johan Munck, CEO at Polarn O. Pyret.
Johan Conradsson, Partner at Procuritas, commented: “We have followed Polarn O. Pyret for several years and are delighted to have the opportunity to partner with them. The company has a long history and is a Swedish icon for children’s clothes. We share Polarn O. Pyret’s values and passion for quality products that can be loved, used, and re-used in a sustainable way. The clothing industry has a big responsibility to improve its climate footprint, which today accounts for as much as 10% of carbon emissions and is the second largest consumer of water supply globally.
“As new owners, we want to continue developing the company as a frontrunner in sustainability – and see great opportunities to transform and grow the business further. We look forward to working with the talented management team of Polarn O. Pyret, supporting the company on its future journey.”
After the transaction Procuritas will become the majority shareholder, with Jotunfjell Partners and the management team acquiring a minority stake. The current leadership will continue in the day-to-day management of the company with Johan Munck as the CEO.
Procuritas has acquired Polarn O.Pyret from RNB RETAIL AND BRANDS, which owns, operates and develops fashion wear, ready-to-wear clothing, accessories stores and e-commerce. The transaction is subject to approval by the Swedish Competition Authority.
For further information, please contact:
+46 761 09 99 44
+46 731 55 81 80
Media – Kepler Communications
+44 7989 528421
+44 7808 585184
Procuritas is a private equity investor, focused on investing in and growing Nordic mid-market companies. With a passion for business, hands-on industrial experience and a close to thirty-year record from a large variety of transactions, we have supported more than 45 companies in accelerating their growth and realizing their true business potential. As owners, we are characterized by our enthusiasm, commitment, and strong belief that we are allies in the quest to build strong and sustainable businesses. Read more at www.procuritas.com.
About Polarn O. Pyret
Polarn O. Pyret is a Swedish brand for baby and childrenswear that started in 1976 with the goal of making clothes that let kids be kids. After 45 years they can proudly call themselves a leading brand for high-quality kids wear in the Nordics, and their products are sold in several markets around the world. They produce clothes that are made to last and to be worn, loved, and washed repeatedly and to be handed down to the next child, they call this design that lasts. The company is headquartered in Stockholm, Sweden, and has approximately 450 employees. Annual revenues were 601 MSEK in FY19/20. Please visit www.polarnopyret.com for more information about the company.