LionRock Capital Acquires Haglöfs for SEK700m

LionRock Capital, a private equity firm, has officially acquired Haglöfs AB, a renowned heritage brand known for its high-quality outdoor clothing and equipment. This acquisition, finalized on 18 December, marks a significant step in LionRock's expansion into the European market and beyond.

Transaction Snapshot

  • Deal Value: SEK700m (AU$102m)
  • Deal Type: Acquisition
  • Investors: LionRock Capital
  • Seller: ASICS
  • Founders: Wiktor Haglöf

Daniel Tseung, LionRock Capital’s founding partner, described Haglöfs AB as a perfect addition to their portfolio, aligning with their strategy of investing in heritage brands with exceptional products. LionRock aims to leverage this acquisition to accelerate Haglöfs' growth, particularly in Europe.

Tom Pitts, Head of Europe at LionRock, emphasized the shared values between the two companies, particularly in terms of commitment to sustainability. Haglöfs, known for its dedication to the environment and tackling climate issues, aligns with LionRock’s focus on investing in responsible and sustainable businesses.

Haglöfs, founded in 1914 in Sweden by Wiktor Haglöf, has established itself as a key player in the outdoor clothing and equipment sector, with a presence in 28 countries. The brand, headquartered in Bromma, Sweden, has been under the ownership of ASICS since 2010. Fredrik Ohlsson, CEO of Haglöfs, acknowledged the valuable support provided by ASICS throughout their partnership.

This move by LionRock Capital follows their previous acquisition of a controlling stake in the UK footwear brand Clarks, in a deal worth £100m ($126m) in 2021. The investment in Clarks was aimed at revitalizing the brand and positioning it for sustainable long-term growth, aligning with its 'Made to Last' strategy.

LionRock's latest acquisition of Haglöfs AB underscores their strategy of investing in well-established brands with a focus on quality, sustainability, and long-term growth potential.

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