e-commerce specialist Online Brands Nordic AB has acquired Nordic Kidswear AB, including its premium and sustainable outdoor kidswear brand Isbjörn of Sweden.
Established by Maria Frykman and Camilla Schmidt in 2005, Isbjörn of Sweden has an unparalleled reputation for producing highly durable yet sustainable outdoor clothing and accessories for kids and teens. Isbjörn has experienced strong global growth in recent years and is estimated to have a turnover of SEK 37 million ytd end April 2022 – an annual increase of 15 per cent EBITDA.
Online Brands Nordic AB will initially pay SEK 40 million, divided 50/50 into cash and new issued shares in the buying company. Additional performance cash payments during 2022, 2023 and 2024 will be a maximum of SEK 35 million, equating to a total purchase sum of SEK 75 million ($7,831,688 / €7,125,062 / £5,992,500).
Maria Frykman, who will continue as CEO at Isbjörn, said: “We look forward to continuing Isbjörn’s mission to make the most sustainable and long-lasting outdoor clothing for children and teenagers, together with Online Brands Nordic. With a financially strong and digitally experienced owner we can further develop Isbjörn into a leading global player within our sector. We can continue to take our product offering and sustainability strategy to the next level, securing the ambitious goals we have set for the company. The combined experience of entrepreneurship and international e-commerce that exists within Online Brands will be a game changing addition to our company. I am honoured to continue as CEO, together with our dedicated team, on this exciting next step for Isbjörn.”
Isbjörn of Sweden is a global omnichannel company which sells to more than 20 markets, including Europe, North America and Japan, via strategically selected retailers as well as its own e-commerce and marketplaces. The company recently outlined its ambitious sustainability pledge which includes bold Net Zero targets, going completely microplastic-free and becoming a fully circular brand.
Magnus Skoglund, CEO, Online Brands Nordic AB, said: “We look forward to further developing Isbjörn in the global marketplace and are excited to welcome Isbjörn of Sweden to the Online Brands Nordic family. Founders Maria and Camilla have made an outstanding effort in developing Isbjörn into a leading outdoor brand which specialises in sustainable and functional clothing for children and teenagers. The brand is at the forefront of using the most sustainable materials and production processes and we look forward to working closely with the Isbjörn team to develop and grow the brand, sharing our valuable knowledge on this inspirational journey.”